Stock market today: Asian shares track Wall Street slump triggered by strong US spending data
Time:2024-05-21 16:57:36 Source:sportViews(143)
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.
Previous:US overdose deaths dropped in 2023, the first time since 2018
Next:Burglar hurled stolen mobile phones at police from the top of 60ft high roof during nine
You may also like
- Why US Catholics are planning pilgrimages in communities across the nation
- Indonesia's Mount Ruang erupts and shuts an airport as residents leave homes
- Xinjiang's progress in the eyes of national legislators, political advisors
- As the aristo
- Trump accepts a VP debate but wants it on Fox News. Harris has already said yes to CBS
- Champions League rules leave teams chasing a moving target in the Bundesliga
- KENNEDY: We all know why blubbery bistro blowhard Keith McPiggy branded perpetual trout
- Here come the nepo
- Yu Darvish extends scoreless innings streak to 25 in Padres' 9