Investing.com – Asian stocks struggled during Thursday’s session as some of the regions marquee equities traded lower.
In Asian trading Thursday, Japan’s Nikkei 225 fell 2.75% as fears of a rising yen prompted traders to sell Japanese exporters. Honda Motor was among the laggards with a 2.2%. A strong yen hampers exporters because it saps earnings.
Hong Kong’s Hang Seng inched up 0.02%, but the Shanghai Composite fell 0.14% after the International Monetary Fund pared its growth forecast for China this year to 7.75% from 8%, while the OECD cut its growth outlook for the Asian giant to 7.8% from 8.5%.
Australia’s fell 0.70% as financials and mining shares traded lower. BHP Billiton, the world’s largest mining company, lost ground due to lower commodities prices, including copper and crude oil.
New Zealand’s NZSE 50 fell 0.41% even after Statistics New Zealand said New Zealand's new building consents rose to a five-year high last month, good for a 19% gain. Excluding volatile apartment consents, the April reading still surged 13%.
More than 17,900 new construction permits worth NZD6.6 billion were issued for the year ending April 30, according to the data.
South Korea’s Kospi added 0.26% after Statistics Korea said industrial output rose for the first time in four months in April. The April reading increased 1.7%, helped by increased mining and manufacturing activity. South Korea is Asia’s fourth-largest economy behind China, Japan and India.
Singapore’s Straits Times Index slid 1.61%. Premiums for gold bars rose in the city state even as prices have declined in other Asian nations.
S&P 500 futures rose 0.13% a day after the benchmark U.S. index lost 0.70%.
In Asian trading Thursday, Japan’s Nikkei 225 fell 2.75% as fears of a rising yen prompted traders to sell Japanese exporters. Honda Motor was among the laggards with a 2.2%. A strong yen hampers exporters because it saps earnings.
Hong Kong’s Hang Seng inched up 0.02%, but the Shanghai Composite fell 0.14% after the International Monetary Fund pared its growth forecast for China this year to 7.75% from 8%, while the OECD cut its growth outlook for the Asian giant to 7.8% from 8.5%.
Australia’s fell 0.70% as financials and mining shares traded lower. BHP Billiton, the world’s largest mining company, lost ground due to lower commodities prices, including copper and crude oil.
New Zealand’s NZSE 50 fell 0.41% even after Statistics New Zealand said New Zealand's new building consents rose to a five-year high last month, good for a 19% gain. Excluding volatile apartment consents, the April reading still surged 13%.
More than 17,900 new construction permits worth NZD6.6 billion were issued for the year ending April 30, according to the data.
South Korea’s Kospi added 0.26% after Statistics Korea said industrial output rose for the first time in four months in April. The April reading increased 1.7%, helped by increased mining and manufacturing activity. South Korea is Asia’s fourth-largest economy behind China, Japan and India.
Singapore’s Straits Times Index slid 1.61%. Premiums for gold bars rose in the city state even as prices have declined in other Asian nations.
S&P 500 futures rose 0.13% a day after the benchmark U.S. index lost 0.70%.