Asian stocks fall in thin trading after Wall Street’s slide
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TOKYO — Asian shares mostly dropped in thin trading Thursday, taking their cue from a slide on Wall Street as the stronger yen helped send Japanese stocks lower.
KEEPING SCORE: Japan’s benchmark Nikkei 225 slipped 1.4 per cent to 19,122.24, as the strengthening yen, which reduces export earnings, weighed on market sentiments. Australia’s S&P/ASX 200 recouped earlier losses and inched up nearly 0.1 per cent to 5,689.40. South Korea’s Kospi fell 0.1 per cent to 2,023.35. Hong Kong’s Hang Seng lost 0.1 per cent to 21,733.26, while the Shanghai Composite rose 0.2 per cent at 3,109.14. Shares were also lower in Taiwan.
WALL STREET: The Dow Jones industrial average fell 111.36 points, or 0.6 per cent, to 19,833.68. The Standard & Poor’s 500 index lost 18.96 points, or 0.8 per cent, to 2,249.92. The Nasdaq composite, which set a record high close the day before, slid 48.89 points, or 0.9 per cent, to 5,438.56.
THE QUOTE: “With the series of weak leads, Asian equities could reverse some of the gains clocked in the day prior,” says Jingyi Pan, market strategist at IG in Singapore.
