Asian Markets Slumping Thursday

Tue, 02 Jun 2020

Asian Markets Slumping Thursday

Voice of America
21 May 2020, 19:05 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 Professional Autos.

More Information

30 ℃

Fair in Seletar

Business

Section

Wall Street surprises on first day of new month with healthy gains

NEW YORK, New York - U.S. stocks made modest gains on Monday, kicking off a new week, and month.With the ...

New plant for health and wellness products to open near Cork City

CO CORK, Ireland - A U.S. manufacturer of essential oils, health and wellness products is developing a manufacturing plant near ...

Dubai getting back to business after lengthy break

DUBAI, UAE - Malls throughout Dubai are slowly building their business after being dormant for some weeks due to the ...

Asian stocks in sharp advance, U.S. dollar sinks

SYDNEY, Australia - Stocks in Asia rallied sharply on Monday, as the U.S. dollar crumbled. The big winner on equity ...

Centuries of belief lost as News Corp newspapers close

News Corp's closing of its community and regional papers, with few remaining and others online-only, cancels centuries of beliefs about ...

NSW, Australia, pushes infracture pipeline out to $100 billion

SYDNEY, NSW, Australia - Australia's most-populated state is to throw another $3 billion at infrastructure projects to boost employment prospects ...

Engineering

Section

NSW, Australia, pushes infracture pipeline out to $100 billion

SYDNEY, NSW, Australia - Australia's most-populated state is to throw another $3 billion at infrastructure projects to boost employment prospects ...

Shripad Naik inaugurates new building of Naval Base Workshop in Goa

South Goa (Goa) [India], June 2 (ANI): Union Minister Shripad Y Naik inaugurated the new building of Naval Base Workshop ...

U.S. COVID-19 cases top 1.8 mln: Johns Hopkins University

A traffic policeman is seen on Times Square in New York City, the United States, May 29, 2020. (Xinhua/Wang Ying)The ...

Commentary: China determined to further open up despite COVID-19 epidemic

Aerial photo taken on April 11, 2020 shows the expansion project of Haikou Meilan International Airport in Haikou, the capital ...

DG BSF visits India-Pak border, reviews border domination plan

New Delhi [India], June 1 (ANI): Border Security Force (BSF) DG SS Deswal on last Saturday and Sunday visited the ...

Global COVID-19 cases top 6.2 mln: Johns Hopkins University

Confirmed COVID-19 cases worldwide has reached 6,206,773 with 372,752 deaths, according to Johns Hopkins University.NEW YORK, June 1 (Xinhua) -- ...

Movie Review

The Breaking Point

Breaking Point