Asian shares lower after US stocks posted their worst losses

Asian shares are lower after US stocks posted their worst loss in five weeks on Wednesday after a surprisingly limp report on the nation’s manufacturing that stirred worries about the economic outlook.

Asian Shares

  • Japan’s Nikkei 225 index shed 0.6 per cent to 21,758.02.
  • Tthe Hang Seng in Hong Kong lost 0.4 per cent to 25,980.37.
  • Sydney’s S&P ASX 200 gave up 1.3 per cent to 6,658.20.
  • The Kospi in South Korea sank 1.4 per cent, to 2,044.01 after North Korea fired a ballistic missile toward the sea Wednesday.
  • The S&P 500 slumped 1.2 per cent to 2,940.25 for its sharpest loss since August.
  • The Dow Jones Industrial Average fell 1.3 per cent to 26,573.04, and the Nasdaq composite dropped 1.1 per cent to 7,908.68.

Bonds

  • The yield on the 10-year Treasury dropped to 1.66 per cent from 1.74 per cent before the report’s release, which is a big move.

Currency

  • The dollar rose to 107.87 Japanese yen from 107.73 yen on Tuesday.
  • The euro strengthened to $1.0937 from $1.0934.

Oil prices

  • Benchmark crude oil rebounded, gaining 56 cents to $54.18 per barrel in electronic trading on the New York Mercantile Exchange. It fell 45 cents to $53.62 a barrel on Tuesday.
  • Brent crude oil, the international standard, picked up 41 cents to $59.30 per barrel.

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