Stock market today: Asian shares track Wall Street slump triggered by strong US spending data
Time:2024-05-21 12:05:19 Source:styleViews(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:Children are evacuated from school 'during an exam' after threat made via email
Next:Ohio judge to rule Monday on whether the state’s abortion ban stands
You may also like
- Strictly star Giovanni Pernice's former partner Rose Ayling
- Domestic travel agencies suspend all tours to Israel
- Xi Focus: Xi's Inspection Trips Show Key Points of China's High
- 1.334 bln people covered by China's basic medical insurance
- Election 2024: Biden and Trump bypassed the Commission on Presidential Debates
- New Edition of Study Outline on Xi Jinping's Thinking on Strengthening Military Published
- Muguruza beats Kuznetsova to advance at Wimbledon
- Mushroom mania fuels tourism innovation
- Ricky Stenhouse punching Kyle Busch could lead to suspension