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.
Related articles:
Related suggestion:
QB Kellen Mond joining the New Orleans Saints to compete for a backup roleA Supreme Court social media ruling could set new free speech standardsKentucky GOP lawmakers remove Democratic governor's role in filling US Senate vacanciesSupreme Court to hear arguments over mifepristone TuesdayElly De La Cruz homers again as the Reds pound the White Sox 11He once swore off politics. Now, this Georgia activist is trying to recruit people who seldom voteQB Kellen Mond joining the New Orleans Saints to compete for a backup roleDonovan Mitchell scores 33 points, Cavaliers clinch playoff spot with 129US Open champ Wyndham Clark takes a shot at LIV Golf after opening round of the MastersFormer owner of gas station chain gets Trump's endorsement in Wisconsin congressional race
2.8156s , 6502.1796875 kb
Copyright © 2024 Powered by Stock market today: Asian shares track Wall Street slump triggered by strong US spending data ,Global Glossary news portal