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:
Related suggestion:
Chinese FM holds talks with US secretary of stateBrazil halts top football league as flooding death toll risesChinese FM holds talks with US secretary of stateBrokerages' deal augurs well for capital market recastColombian president says to break diplomatic relations with IsraelYouth development plan signals hope for futureScientists, sciWADA to hold extraordinary meeting in Chinese swimmers caseTravel route honors CPC's historic journeyVillage tourism in Xizang ushers in spring amid peach blossom viewing
2.0011s , 6502.5546875 kb
Copyright © 2024 Powered by Stock market today: Asian shares track Wall Street slump triggered by strong US spending data ,Universal Unfoldings news portal