Stock market rout continues
By Duncan Richardson, News Editor
24 Aug 2015
Asian stock markets have tumbled once again overnight with the Chinese Composite down 7.3%. The rout continued across Asia with the Hong Kong’s Hang Seng index down 5.08% and the Tokyo Nikkei down 4.6%. The FTSE 100 is currently down 2.34% and both the French and German stock markets are down over 3%.
The commodity sell off has continued with oil trading below $40 for the first time in 6 years.
Commodity based currencies continue to fall against the pound. The currencies of Australia, Russia, Brazil, Canada, Peru, Chile and Malaysia are now trading at 12 month low against the British pound.
In London the gold price is broadly unchanged at £738.95 per ounce, whilst silver is currently trading at £9.67 per ounce, platinum at £643.34 per ounce and palladium £376.51 per ounce.