Asian Markets Slumping Thursday

Voice of America
21 May 2020, 14:35 GMT+10

Asian markets closed mostly lower Thursday as investors reacted to bad economic news from Japan, and to China's worsening trade and diplomatic relations with Australia and the United States.

Tokyo's benchmark Nikkei index lost 0.2 percent at its closing bell after the government announced that Japan's exports fell 21.9 percent last month, the biggest drop since the 2008 global financial crisis. Hong Kong's Hang Seng index was down 0.4 percent in late afternoon trading, while Shanghai was 0.5 percent lower and the S&P/ASX 500 in Sydney was down 0.4 percent. Seoul closed 0.4 percent higher, and Taipei posted a 0.9 percent increase.

Monday's major rally on global markets after news of a potential coronavirus vaccine faded after Beijing imposed massive tariffs on Australian barley imports, plus the Trump administration's increasingly heated rhetoric against China over its initial response to the coronavirus pandemic, which was first detected late last year in Wuhan.

The Dow Jones, S&P 500 and Nasdaq are all lower in futures trading, indicating a lower opening on Wall Street Thursday.

Oil markets are in positive territory Thursday, with U.S. crude trading at $34.11 per barrel, up 1.85 percent, while Brent crude, the international benchmark, is trading at $36.29 per barrel, up 1.5 percent.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Breaking Property News.

More Information

null in null

Business

Section

Apple allows outside payment links under EU pressure

SAN FRANCISCO, California: Under pressure from European regulators, Apple has revamped its App Store policies in the EU, introducing...

Euro, pound surge as U.S. rate cut odds grow after Powell hint

NEW YORK CITY, New York: The U.S. dollar tumbled this week, hitting its lowest levels since 2021 against the euro, British pound, and...

Sam’s Club fulfillment center to shut in Texas, jobs impacted

NEW YORK CITY, New York: Walmart is set to close a major Sam's Club fulfillment center in Fort Worth, Texas, as part of a shift in...

Meta wins lawsuit in California court over AI use of authors’ books

SAN FRANCISCO, California: A U.S. judge has dismissed a copyright lawsuit filed by 13 authors against Meta Platforms, the company that...

From 2028, top earners in Oman will face 5% income tax

DUBAI, U.A.E: Oman is set to introduce a personal income tax as part of its strategy to reduce dependency on hydrocarbon revenues....

U.S. stocks surge despite Trump rift with Canada

NEW YORK, New York - U.S. President Donald Trump dropped a bombshell on Friday announcing he had terminated trade talks with Canada....

Construction

Section