Asian markets decline; energy stocks fall

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Asian shares markets fell on Wednesday, tracking modest losses overnight on Wall Street, where the biggest drop in crude oil prices since October weighed on oil producers and other energy stocks.

Japan’s Nikkei 225 index slumped 0.9 per cent after a lackluster GDP report for July-September. The Nikkei 225 was at 22,169.31, as manufacturers’ shares were hurt by a stronger yen.

Hong Kong’s Hang Seng lost 0.7 per cent to 28,956.00 and the Shanghai Composite index also lost 0.7 per cent to 3,405.18. Australia’s S&P ASX 200 fell 0.4 per cent to 5,945.50.

The Kospi of South Korea declined 0.3 per cent to 2,519.26. Taiwan fell and shares in Southeast Asia were mostly lower, reports AP.

Benchmark US crude sank 58 cents to $55.12 per barrel, or 1.04 per cent, in electronic trading on the New York Mercantile Exchange. It fell $1.06, or 1.9 per cent, on Tuesday to settle at $55.70 per barrel.

Brent crude, used to price international oils, shed 71 cents to $61.50 per barrel. It declined 95 cents, or 1.5 per cent, to close at $62.21 a barrel in London.

The S&P 500 index fell 0.2 per cent to 2,578.87. The Dow Jones industrial average 0.1 per cent to 23,409.47 and the Nasdaq composite slid 0.3 per cent to 6,737.87.

The dollar fell to 113.21 yen from 113.43 yen on Tuesday. The euro weakened to $1.1793 from $1.1796.

 

Source: thefinancialexpress