Asian shares lower, US futures up after S&P 500 sinks 3.5%
Asian shares declined Thursday and U.S. futures turned higher after the S&P 500 slid 3.5% overnight for its biggest drop since June.
- In Thursday trading, Hong Kong’s Hang Seng lost 1% to 24,452.65.
- The Nikkei 225 in Japan fell 0.5% to 23,294.51.
- In South Korea, the Kospi lost 1.7% to 2,305.70.
- The Shanghai Composite index recovered from early losses, gaining 0.1% to 3,271.72.
- Australia’s S&P/ASX 200 declined 1.7% to 5,952.40.
- Shares also fell in Taiwan and Southeast Asia.
- Crude oil slipped further, with U.S. benchmark crude giving up 5 cents to $37.35 per barrel in electronic trading on the New York Mercantile Exchange.
- It tumbled 5.7% Wednesday on worries that an economy already weakened by the virus would consume even less energy and allow excess supplies to build higher.
- Brent crude, the international standard, gave up 13 cents to $39.51 per barrel. It fell 5.4% to $39.64 per barrel on Wednesday.
- In currency dealings, the dollar strengthened to 104.46 Japanese yen from 104.34 yen.
- The euro rose to $1.1752 from $1.1747.