Investing.com – Asian stock markets were broadly lower on Thursday, as market sentiment was weighed by ongoing violence in Libya and after China unexpectedly posted its largest trade deficit in seven years.
During late Asian trade, Hong Kong's Hang Seng Index slumped 0.88%, South Korea's Kospi Composite fell 0.99%, while Japan’s Nikkei 225 Index dropped 1.46%.
Earlier in the day, a government report showed that China unexpectedly posted a trade deficit of USD7.3 billion in February, confounding expectations for a surplus of USD4 billion, as export growth slowed sharply in the wake of the Lunar New Year holiday.
Shares in many of the big name Japanese exporters sold off on the downbeat data, with electronics giant Sony slumping 0.95%. The world’s largest automaker Toyota saw shares drop 1.75%, while shares in rival Honda shed 0.75%.
Meanwhile, shares in Chiyoda Corporation, a contractor that gets nearly half of its revenue from the Middle East plunged 4.6% as troops loyal to embattled Libyan leader Muammar Gaddafi continued to clash with rebel forces.
Japan’s largest chip manufacturer Elpida saw shares plunge 8% after Texas Instruments lowered its current-quarter earnings outlook on Wednesday, citing weaker-than-expected demand for chips used in personal computers.
In Hong Kong, shares in property developers performed poorly amid concerns property sales would slow as a result of Chinese monetary tightening measures.
Shares in Hong Kong’s third largest property developer Hang Lung Properties dropped 1.5%, rivals Sino Land Company slumped 1.7%, while shares in property investment firm New World Development saw shares tumble 2.8%.
Elsewhere, Australia’s S&P/ASX 200 Index tumbled 1.43%, after official data showed that the number of people employed unexpectedly declined by 10.1K in February, confounding expectations for an increase of 21.5K.
The outlook for European stock markets was downbeat. The EURO STOXX 50 futures indicated a drop of 1.12%, France’s CAC 40 futures pointed to a loss of 0.83%, Germany's DAX futures shed 0.54%, while the FTSE 100 futures fell 0.71%.
Later in the day, the U.S. was to publish a key weekly report on initial jobless claims as well as data on the country’s trade balance.
During late Asian trade, Hong Kong's Hang Seng Index slumped 0.88%, South Korea's Kospi Composite fell 0.99%, while Japan’s Nikkei 225 Index dropped 1.46%.
Earlier in the day, a government report showed that China unexpectedly posted a trade deficit of USD7.3 billion in February, confounding expectations for a surplus of USD4 billion, as export growth slowed sharply in the wake of the Lunar New Year holiday.
Shares in many of the big name Japanese exporters sold off on the downbeat data, with electronics giant Sony slumping 0.95%. The world’s largest automaker Toyota saw shares drop 1.75%, while shares in rival Honda shed 0.75%.
Meanwhile, shares in Chiyoda Corporation, a contractor that gets nearly half of its revenue from the Middle East plunged 4.6% as troops loyal to embattled Libyan leader Muammar Gaddafi continued to clash with rebel forces.
Japan’s largest chip manufacturer Elpida saw shares plunge 8% after Texas Instruments lowered its current-quarter earnings outlook on Wednesday, citing weaker-than-expected demand for chips used in personal computers.
In Hong Kong, shares in property developers performed poorly amid concerns property sales would slow as a result of Chinese monetary tightening measures.
Shares in Hong Kong’s third largest property developer Hang Lung Properties dropped 1.5%, rivals Sino Land Company slumped 1.7%, while shares in property investment firm New World Development saw shares tumble 2.8%.
Elsewhere, Australia’s S&P/ASX 200 Index tumbled 1.43%, after official data showed that the number of people employed unexpectedly declined by 10.1K in February, confounding expectations for an increase of 21.5K.
The outlook for European stock markets was downbeat. The EURO STOXX 50 futures indicated a drop of 1.12%, France’s CAC 40 futures pointed to a loss of 0.83%, Germany's DAX futures shed 0.54%, while the FTSE 100 futures fell 0.71%.
Later in the day, the U.S. was to publish a key weekly report on initial jobless claims as well as data on the country’s trade balance.