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Overnight Markets: Commodity shares weigh on Wall Street

by Himanshu Singh on Mar 12, 2014 at 03:30

In deal news, Men's Wearhouse (MW.N) said it would acquire rival Jos. A. Bank Clothiers (JOSB.O) for nearly $1.8 billion. Men's Wearhouse shares rose 4.7% and Jos. A. Bank added 3.9%.

In Asia, shares fell on Wednesday in late morning session as Japanese equities plunged on a stronger yen and mining companies slid amid concern about China’s economic outlook.

The MSCI Asia Pacific Index declined 1.4% to 136 as of 11:09 a.m. in Tokyo. Japan’s Topix index fell 1.9% after the yen yesterday rose the most in a more than a week against the dollar.

Australia’s S&P/ASX 200 Index fell 1.1%. South Korea’s Kospi Index decreased 1.2%. New Zealand’s NZX 50 Index lost 0.2%. Taiwan’s Taiex index dropped 0.5% and Singapore’s Straits Times Index slipped 0.7%.

Hong Kong’s Hang Seng Index sank 1.5%, while China’s Shanghai Composite Index lost 0.2%.

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