Asian Stock Markets
Asian stocks sagged on Thursday after Wall Street slumped on an extended
sell-off in tech firms, while the dollar dipped as it lost some
momentum after surging to a one-week high.
Spreadbetters expected European stocks to open mixed, with Britain's FTSE .FTSE falling 0.35 percent, Germany's DAX .GDAXI rising 0.02 percent and France's CAC .FCHI gaining 0.05 percent.
MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was 0.1 percent lower after swerving in and out of negative territory.
Shanghai .SSEC rose 0.1 percent, Hong Kong's Hang Seng .HSI fell 0.2 percent and Australian stocks shed 0.6 percent.
Japan's Nikkei .N225 was flat after giving back earlier gains while South Korea's KOSPI .KS11 edged up 0.1 percent.
Wall Street closed lower after a rocky session on Wednesday as gains in consumer staples and healthcare were offset by a sharp drop in Amazon (AMZN.O) shares and a continuing slide in technology stocks. [.N] nL3N1RA5QV]
Possible government regulation of the tech sector has rattled investors, with Amazon losing over $30 billion of its market value in overnight trade on a report U.S. President Donald Trump wants to rein in the growing power of the world’s largest online retailer.
Japan has sounded out the North Korean government about a bilateral summit, and Pyongyang has discussed the possibility of a leaders’ meeting with Japan and other countries, Japan’s Asahi newspaper said on Thursday.
Earlier, North Korea’s leader Kim Jong Un pledged his commitment to denuclearisation and to meet U.S. officials, Beijing said on Wednesday after Kim met with Chinese President Xi Jinping.
The yen, often sought in times of market turmoil and political tensions, retraced the gains it made against the dollar earlier in the week.
The greenback was 0.4 percent lower at 106.450 yen JPY= after it rallied 1.4 percent on Wednesday on perceived progress over the North Korea issue. It had set a 16-month trough of 104.560 on Monday.
The dollar index versus a basket of six major currencies was dipped 0.1 percent to 89.945 .DXY after reaching a one-week high of 90.147.
Global markets were shaken this month when Trump moved to impose tariffs on Chinese goods and Beijing threatened to retaliate.
The United States and South Korea agreed on Tuesday to revise their six-year-old trade pact with a side deal to deter competitive currency devaluation by Seoul and with concessions for U.S. autos and pharmaceutical companies.
Spreadbetters expected European stocks to open mixed, with Britain's FTSE .FTSE falling 0.35 percent, Germany's DAX .GDAXI rising 0.02 percent and France's CAC .FCHI gaining 0.05 percent.
MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was 0.1 percent lower after swerving in and out of negative territory.
Shanghai .SSEC rose 0.1 percent, Hong Kong's Hang Seng .HSI fell 0.2 percent and Australian stocks shed 0.6 percent.
Japan's Nikkei .N225 was flat after giving back earlier gains while South Korea's KOSPI .KS11 edged up 0.1 percent.
Wall Street closed lower after a rocky session on Wednesday as gains in consumer staples and healthcare were offset by a sharp drop in Amazon (AMZN.O) shares and a continuing slide in technology stocks. [.N] nL3N1RA5QV]
Possible government regulation of the tech sector has rattled investors, with Amazon losing over $30 billion of its market value in overnight trade on a report U.S. President Donald Trump wants to rein in the growing power of the world’s largest online retailer.
Japan has sounded out the North Korean government about a bilateral summit, and Pyongyang has discussed the possibility of a leaders’ meeting with Japan and other countries, Japan’s Asahi newspaper said on Thursday.
Earlier, North Korea’s leader Kim Jong Un pledged his commitment to denuclearisation and to meet U.S. officials, Beijing said on Wednesday after Kim met with Chinese President Xi Jinping.
The yen, often sought in times of market turmoil and political tensions, retraced the gains it made against the dollar earlier in the week.
The greenback was 0.4 percent lower at 106.450 yen JPY= after it rallied 1.4 percent on Wednesday on perceived progress over the North Korea issue. It had set a 16-month trough of 104.560 on Monday.
The dollar index versus a basket of six major currencies was dipped 0.1 percent to 89.945 .DXY after reaching a one-week high of 90.147.
Global markets were shaken this month when Trump moved to impose tariffs on Chinese goods and Beijing threatened to retaliate.
The United States and South Korea agreed on Tuesday to revise their six-year-old trade pact with a side deal to deter competitive currency devaluation by Seoul and with concessions for U.S. autos and pharmaceutical companies.
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