Asian shares slide after Wall Street retreat
Asian shares were mostly lower Thursday, with Tokyo dropping more than 1% as the Japanese yen gained after the Federal Reserve said it would keep interest rates low through 2022.
- Japan’s benchmark Nikkei 225 lost 1.2% to 22,842.90.
- South Korea’s Kospi edged 0.2% lower to 2,190.74.
- Hong Kong’s Hang Seng gained 0.3% to 24,970.72.
- The Shanghai Composite was little changed, inching down less than 0.1% to 2,943.11.
- Australia’s S&P/ASX 200 sank 2.3% to 6,010.20.
- The dollar fell to 106.98 Japanese yen from 107.12 yen late Wednesday.
- The euro rose to $1.1387 from $1.1377.
- The prospect of super-low rates for longer was a boon for gold overnight, leaving it at $1,731 an ounce XAU=. GOL/
- In other trading, benchmark U.S. crude oil fell 97 cents to $38.63 a barrel in electronic trading on the New York Mercantile Exchange.
- It rose 1.7% to settle at $39.60 a barrel on Wednesday.
- Brent crude, the international standard, fell 90 slipped to $40.83 a barrel.