Asian mar­kets ex­tend losses af­ter dis­mal ses­sion on Wall Street

Sun.Star Pampanga - - WORLD! -

TOKYO — Shares in Asia fell Wed­nes­day af­ter an­other af­ter­noon fiz­zle for stocks that left the Stan­dard & Poor’s 500 in­dex with its third straight loss.

KEEP­ING SCORE: Tokyo’s Nikkei 225 in­dex lost 0.9 per­cent to 22,419.88 and the Hang Seng in Hong Kong slumped 1.6 per­cent to 28,389.35. The Shang­hai Com­pos­ite in­dex skid­ded 0.7 per­cent to 3,279.59 while South Korea’s Kospi dropped 0.6 per­cent to 2,494.68. The S&P ASX 200 in Aus­tralia fell 0.4 per­cent to 5,951.10. Shares were mostly lower in South­east Asia.

WALL STREET: Tech­nol­ogy stocks re­cov­ered but then lost mo­men­tum on Tues­day, as losses for tele­com stocks and util­i­ties helped ce­ment the S&P 500’s long­est los­ing streak in nearly four months. The S&P 500 fell 0.4 per­cent to 2,629.57. The Dow Jones in­dus­trial av­er­age lost 0.5 per­cent to 24,180.64, and the Nas­daq com­pos­ite de­clined 0.2 per­cent to 6,762.21. Losers out­num­bered win­ners on the New York Stock Ex­change by nearly two to one.

AN­A­LYST’S TAKE: “The sell-off into Tues­day’s U.S. ses­sion pro­vides weak leads for Asian mar­kets mid­week and fu­tures have cer­tainly pointed us in the di­rec­tion of fur­ther pres­sure for the re­gion,” Jingyi Pan of IG said in a com­men­tary.

CURRENCIES: The dol­lar slipped to 112.23 Ja­panese yen from 112.60 yen late Tues­day. The euro rose to $1.1831 from $1.1825, and the Bri­tish pound fell to $1.3442 from $1.3444.

EN­ERGY: Bench­mark U.S. crude gave up 24 cents to $57.38 per bar­rel in elec­tronic trad­ing on the New York Mer­can­tile Ex­change. It rose 15 cents to set­tle at $57.62 per bar­rel on Tues­day. Brent crude, the in­ter­na­tional stan­dard, shed 24 cents to $62.62 a bar­rel in Lon­don. (AP)

A man walks past an elec­tronic stock board show­ing Ja­pan’s Nikkei 225 in­dex at a se­cu­ri­ties firm in Tokyo Wed­nes­day, Dec. 6, 2017. Shares in Asia fell Wed­nes­day af­ter an­other af­ter­noon fiz­zle for stocks that left the Stan­dard & Poor’s 500 in­dex with its third straight loss. (AP Photo/Eu­gene Hoshiko)

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