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Wednesday, March 26, 2014

Rupiah strengthened to Rp11.400 , Impairment of technology stocks drag Wall Street lower , European stock markets closed higher

Rupiah strengthened to Rp11.400 , Impairment of technology stocks drag Wall Street lower , European stock markets closed higher

. The rupiah traded at Jakarta interbank moved higher on Thursday morning by five points to Rp11.400 compared to the previous position Rp11.405 per U.S. dollar .

Wall Street closed lower on Wednesday (Thursday morning GMT ) , dragged technology stocks mostly fell after the announcement of the acquisition market ignoring Facebook and the first day of trading as a public company Digital King .

The Dow Jones Industrial Average fell 98.89 points ( 0.60 percent ) to finish at 16268.99 .

The broad-based S & P 500 fell 13.06 points ( 0.70 percent ) to close at 1852.56 , while the tech -heavy Nasdaq composite index slipped 60.69 points ( 1.43 percent) to 4173.58 .

Michael James , managing director of stock trading at Wedbush Securities , said some investors are skeptical of technology stocks after Facebook announced a two billion dollar deal to buy a virtual reality company Oculus shortly after announcing a deal to buy WhatsApp amounted to 19 billion U.S. dollars .

Facebook shares fell 6.9 percent .

Investors also did not like the creators of the game Candy Crush , King Digital , which slumped 15.6 percent on the first day of trading of its shares after raise 500 million U.S. dollars in a prime umuum offer ( IPO ) .

Digital King shares closed at 19 U.S. dollars , far below the IPO price of 22.50 U.S. dollars .

Decrease King also suppress other videogame developers , including Zynga is down 4.1 percent and Electronic Arts fell 2.5 percent .

" It has been a bad time for technology stocks over the past week , " said James .

The decline in technology stocks widespread , including Google fell 2.3 percent , down 3.2 percent Amazon and Tesla Motors slumped 3.4 percent . An exception occurred in the software company Oracle , which rose 1.8 percent .

Most of the companies in the Dow also fell . Exceptions to the pharmaceutical company Merck , which rose 1.5 percent and Pfizer rose 1.1 percent .

News Corp. fell 1.9 percent , while 21st Century Fox slumped 1.1 percent after the global media titan Rupert Murdoch's son Lachlan Murdoch appointed as vice president in both companies , a sign of the possibility of the two companies would lead it when his father ( 83 years ) retired .

A report that Dish Network and DirecTV will join lifting their shares . Dish jumped 6.3 percent , while DirecTV gained 5.7 percent .

Bond prices rose . The yield on U.S. 10-year bond fell to 2.70 percent from 2.73 percent on Tuesday , while the 30 -year fell to 3.55 percent from 3.57 percent . Prices and bond yields move inversely , AFP reported .

Major stock markets of Europe closed higher on Wednesday , although the benchmark FTSE 100 index in London ended the day flat at 6605.30 general points .

While in Frankfurt the DAX 30 gained 1.18 percent to end at 9448.58 points and in Paris the CAC 40 added 0.94 per cent to close at 4385.15 points , AFP reported

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