Stock market today: Asian shares track Wall Street slump triggered by strong US spending data
BANGKOK (AP) — Asian shares skidded Tuesday following a slump on Wall Street after higher yields in the U.S. bond market cranked up pressure on stocks.
The Shanghai Composite index lost 1.7% to 3,007.07 even though the Chinese government reported that the economy grew at a surprisingly fast 5.3% annual rate in the first quarter of the year. In quarterly terms it expanded at a 1.6% pace.
The Hang Seng in Hong Kong lost 2.1% to 16,248.97.
Tokyo’s Nikkei 225 fell 1.9% to 38,471.20 as the dollar continued to gain against the Japanese yen, hitting fresh 34-year highs. By late afternoon the dollar was trading at 154.41 yen, up from 154.27 yen.
The euro slipped to $1.0621 from $1.0626.
Elsewhere in Asia, Taiwan’s Taiex led the regional decline, falling 2.7%. Markets in Bangkok were closed for Songkran holidays.
In South Korea, the Kospi declined 2.3% to 2,609.63, while Australia’s S&P/ASX 200 fell 1.8% to 7,612.50.
Related articles
China nurtures unicorn enterprises via sci
BEIJING, May 2 (Xinhua) -- With the steady improvement of China's overall strength in sci-tech innov2024-05-07Airport near volcano reopens as Indonesia lowers eruption alert level
MANADO, Indonesia (AP) — Indonesian authorities reopened an international airport near a volcano tha2024-05-07Dakota Joshua scores 2 goals to help lift Canucks past Predators 4
VANCOUVER, British Columbia (AP) — Dakota Joshua scored twice and had an assist and the Vancouver Ca2024-05-07Eat nuts and seeds to fight off disease: Healthy snacks should be added to 5
Nuts and seeds should be added to the '5-a-day' guidelines, a report suggests today.The nutritional2024-05-07FBI says an infant abducted from New Mexico park has been found safe; a suspect is in custody
CLOVIS, N.M. (AP) — An infant girl who was abducted from a park near Clovis, Mexico, has been found2024-05-07China introduces measures to support overseas investment in domestic sci
BEIJING, April 19 (Xinhua) -- Chinese authorities released a document Friday introducing new measure2024-05-07
atest comment