Asia report: Markets mostly lower as trade concerns linger
Markets in Asia finished lower on Thursday, after a sell-off in technology plays overnight in the US and as concerns around trade continued to linger.
AUD/USD
$0.6479
17:42 23/04/24
GBP/NZD
NZD2.0957
17:41 23/04/24
Hang Seng
16,828.93
10:21 23/04/24
Nikkei 225
37,552.16
09:44 23/04/24
USD/JPY
¥154.8220
17:42 23/04/24
In Japan, the Nikkei 225 was down 0.41% at 22,487.94, as the yen strengthened 0.2% against the dollar to last trade at JPY 111.31.
Shares in Hokkaido Electric Power slid 6.43% after a strong earthquake offshore left that island’s electricity network damaged, and residents without power.
On the mainland, the Shanghai Composite was 0.47% lower at 2,691.59, and the smaller, technology-heavy Shenzhen Composite was down 0.72% to 1,431.86.
South Korea’s Kospi slid 0.18% to 2,287.61, while the Hang Seng Index in Hong Kong was off 0.99% at 26,974.82.
The blue-chip technology stocks were in the red, with Samsung Electronics and SK Hynix both down, while another member of the Samsung chaebol - Samsung Publishing - surged 13.19%.
That came as its childrens’ song ‘Baby Shark’ continued its global popularity, breaking into the UK’s top 40 singles chart late in August.
Oil prices were higher, with Brent crude last up 0.41% at $77.59 per barrel, and West Texas Intermediate rising 0.25% to $68.89.
In Australia, the S&P/ASX 200 fell 1.12% to 6,160.40, as the telecoms subindex lost 2.59%.
That was on the back of landline network incumbent Telstra lowering its 2019 guidance after the release of a renewed plan for the country’s botched National Broadband Network project.
Still, shares in Telstra finished 3.31% higher in Sydney trading.
Across the Tasman Sea, New Zealand’s S&P/NZX 50 closed 1.4% weaker at 9,101.60, led lower by independent dairy producer Synlait Milk, which was off 4.9%.
The down under dollars both stronger, with the Aussie last 0.1% ahead against the greenback at AUD 1.3888 and the Kiwi advancing 0.12% to NZD 1.5155.