Economic news

Asian Stocks Dip on Trade Disillusionment, HK Turmoil

Asian stocks and Wall Street futures tumbled on Wednesday, as developing stresses that Sino-U.S. exchange negotiations are slowing down and worry about increasing agitation in Hong Kong hurt interest for riskier assets.

hong kongPhoto: Flickr

MSCI's broadest equity indicator of Asia-Pacific stocks outside Japan dropped 1.01 percent to the weakest level in over seven days. Hong Kong stocks slipped 1.8 percent to a fourteen-day low, battered by fears that anti-government fights have all the earmarks of being spiraling crazy.

The Shanghai Composite Index slipped 0.2 percent to 2,908.63 and Tokyo's Nikkei sank 0.9 percent to 23,303.13. Hong Kong's Hang Seng tumbled 1.9 percent to 26,549.

Seoul's Kospi withdrew 0.8 percent to 2,124.68 and Sydney's S&P-ASX was 0.6 percent lower at 6,715.70. Taiwan and Singapore stocks skidded. New Zealand stocks tumbled after the nation's national bank out of the blue kept its official money rate unaltered.

Among other shares, Nissan declined in Tokyo exchanging following announcing a 70 percent dive in profit from the earlier year and bringing down its income and benefit viewpoint. Quick Retailing and Inpex likewise slipped.

In Hong Kong New World Development, Wharf Real Estate and Sino Land Co were pounded as rough protests proceeded.

LG Electronics pulled back in South Korea, and Foxconn dunked in Taiwan. Beach Energy fell in Australia.


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