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:
Xi Jinping: CPC Is a Party of the People and for the PeopleChina's legislature, judiciary vow highChinese President Appoints New AmbassadorsChina's legislature, judiciary vow highXi Sends Congratulatory Letter to 2022 World Internet Conference Wuzhen SummitXi Congratulates International Bamboo and Rattan Organization on 25th AnniversaryInterview: China's new quality productive forces bring new opportunities for foreign investorsXi Congratulates Lula da Silva on Election as Brazilian PresidentChinese Women's Health, Education Continue to ImproveXi Congratulates Russia
0.3086s , 6515.5 kb
Copyright © 2024 Powered by Stock market today: Asian shares track Wall Street slump triggered by strong US spending data ,International Imagery news portal