Asian stocks mostly lower following Wall Street drop
Asian stocks mostly slipped in narrow trading Tuesday following a drop on Wall Street disappointed by U.S. economic data.
KEEPING SCORE: Japan’s benchmark Nikkei 225 lost 0.2 percent in morning trading to 17,106.54. South Korea’s Kospi added 0.2 percent to 1,986.23. Hong Kong’s Hang Seng was down 0.1 percent at 20,320.32, while the Shanghai Composite dipped 0.6 percent to 2,939.32.
WALL STREET: The Dow Jones industrial average rose 19.66 points, or 0.1 percent, to 17,535.39. The Standard & Poor’s 500 index added 1.11 points to 2,037.05, ending a three-day losing streak. The Nasdaq composite index lost 6.72 points, or 0.1 percent, to 4,766.79. Stocks have flagged over the last few days after a five-week rally.
JAPAN MIXED: Japan released consumption data that showed household spending was growing but retail sales were weakening. The fluctuating dollar has also contributed to directionless trading lately.
THE QUOTE: “There are plenty of opportunities to evaluate the state of the U.S. economy this week, and markets globally will look for cues from … Fed members and non-farm payrolls on Friday,” said Alex Furber, senior client services executive, at CMC Markets in Singapore.
ENERGY: Benchmark U.S. crude fell 13 cents to $39.26 a barrel in New York. It fell 7 cents to $39.39 Monday. Brent crude, used to price international oils, lost 16 cents to $40.71 a barrel in London.
CURRENCIES: The euro rose to $1.1193 from $1.1170. The dollar edged up to 113.61 yen from 113.52 yen.
AP Markets Writer Marley Jay, who contributed to this report, can be reached at http://twitter.com/MarleyJayAP and his work can be found at http://bigstory.ap.org/journalist/marley-jay
Follow Yuri Kageyama on Twitter at: https://twitter.com/yurikageyama
Her work can be found at http://bigstory.ap.org/content/yuri-kageyama