Asia stocks slip; Australia jobs data for April ahead

Asian stocks follow Wall Street higher on recovery hopes - Houston ...


Stocks in Asia traded lower on Thursday morning following an overnight drop for stocks stateside.

In Japan, the Nikkei 225 dipped 0.6% in early trade while the Topix index also shed 0.61%. South Korea’s Kospi also declined 0.9%.

Shares in Australia were also lower, with the S&P/ASX 200 down 0.7%.

Overall, the MSCI Asia-ex Japan index traded 0.37% lower.

On the economic data front, Australia jobs data for April is set to be released at around 9:30 a.m. HK/SIN on Thursday.

TICKER COMPANY NAME PRICE CHANGE %CHANGE
.N225 Nikkei 225 Index NIKKEI 20115.60 -151.45 -0.75
.HSI Hang Seng Index HSI 23834.50 -345.80 -1.43
.AXJO S&P/ASX 200 ASX 200 5371.00 -50.90 -0.94
.SSEC Shanghai SHANGHAI 2879.91 -18.14 -0.63
.KS11 KOSPI Index KOSPI 1914.54 -25.88 -1.33
.FTFCNBCA CNBC 100 ASIA IDX CNBC 100 7585.02 -64.67 -0.85

Overnight on Wall Street, the Dow Jones Industrial Average dropped 516.81 points to close at 23,247.97 while the S&P 500 finished its trading day around 1.75% lower at 2,820. The Nasdaq Composite fell 1.6% to close at 8,863.17.

The moves downward stateside came as U.S. Federal Reserve Chairman Jerome Powell said Wednesday that more may need to be done to support the economy.

“While the economic response has been both timely and appropriately large, it may not be the final chapter, given that the path ahead is both highly uncertain and subject to significant downside risks,” Powell said in prepared remarks for a webcast event with the Peterson Institute for International Economics.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 100.184 after earlier rising from levels below 100.

The Japanese yen traded at 106.90 after seeing levels around 106.8 yesterday. The Australian dollar was at $0.6448 after weakening from highs above $0.654 seen earlier in the trading week.

Oil prices were higher in the morning of Asian trading hours, with international benchmark Brent crude futures up 0.58% to $29.36 per barrel. U.S. crude futures also added 0.91% to $25.52 per barrel.

Eustance Huang

 

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