Global Economy

Asia-Pacific stocks struggle for direction after S&P 500 ends winning streak on Wall Street

SINGAPORE — Shares in Asia-Pacific struggled for direction in Thursday trade after the S&P 500 on Wall Street snapped its two-day winning streak overnight.

Mainland Chinese stocks slipped as the Shanghai composite shed 0.15% while the Shenzhen component dipped 0.658%. Over in Hong Kong, the Hang Seng index advanced about 0.1%.

In Japan, the Nikkei 225 hovered above the flatline while the Topix index slipped 0.11%.

South Korea’s Kospi gained 0.34%. Meanwhile, the S&P/ASX 200 in Australia declined 0.1%.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded just 0.05% higher.

Overnight stateside, the S&P 500 slipped 0.11% to 4,241.84, ending a two-day winning streak. Still, the index sits 0.4% from an all-time high. The Dow Jones Industrial Average shed 71.34 points to 33,945.59 while the Nasdaq Composite rose 0.13% to 14,271.73.

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Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 91.835 after an earlier recovery from below 91.7.

The Japanese yen traded at 110.98 per dollar, having weakened earlier this week from below 110 against the greenback. The Australian dollar changed hands at $0.7573, above levels below $0.752 seen earlier in the week.

Oil prices were mildly higher in the morning of Asia trading hours, with international benchmark Brent crude futures rising about 0.1% to $75.25 per barrel. U.S. crude futures saw fractional gains to $73.13 per barrel.


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