Economic news

Asian stocks took a deep breath following a five-day rally

On Thursday Asian shares made a pause as weak U.S. retail deals figures raised anxiety about the well-being of the world's biggest economy, draining the steam out of a five-session rally, while any desires for a Brexit agreement kept the pound swinging.

hkexPhoto: Flickr

South Korean, Australian and New Zealand equity indicators were all in the red. Chinese stocks were slightly changed while Japan's Nikkei ticked up and U.S. stock futures were almost flat.

That left MSCI's broadest equity indicator of Asia-Pacific stocks outside Japan a tad higher with increases largely drove by Hong Kong's Hang Seng equity indicator.

Japan's Nikkei added 0.1 percent and Hong Kong's Hang Seng Index gained 0.9 percent. The Shanghai Composite crawled up 0.1 percent as the Shenzhen Composite edged by 0.2 percent higher. South Korea's retreated 0.2 percent, while benchmark equity indicators in Taiwan, Singapore, Malaysia, and Indonesia were mixed. Australia's S&P/ASX 200 dropped 0.4 percent.

Among individual shares, Rakuten advanced in Tokyo exchanging, alongside Sony and SoftBank. Property organizations flooded in Hong Kong, driven by New World Development, Sun Hung Kai Properties and Henderson Land Development after new government measures were reported to facilitate a lodging deficiency. Tech organizations, for example, Samsung, SK Hynix, and LG Electronics tumbled in South Korea. BHP and Rio Tinto sank in Australia.


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