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:
Reassurance, aspiration, hopeTaiwan students can apply for mainland universities from March 1Firms listed on Shenzhen bourse see steady performance in 2023Mallorca probing another racialFeature: ChinaOutbound tourism growth, inbound recovery projectedRod Stewart, 79, is joined by his son Aiden, 13, while cheering on his beloved Celtic during their 3Pupils welcome new semester with lively activities in N China's HohhotKendall Jenner keeps a lowTeyana Taylor shows off her toned figure in denim
2.0481s , 6490.6171875 kb
Copyright © 2024 Powered by Stock market today: Asian shares track Wall Street slump triggered by strong US spending data ,Stellar Stand news portal