Asian stocks fall as Chinese growth concerns plunge
Asian stocks fall as Chinese growth concerns plunge
Asian stocks fell on Tuesday as worries over weakening Chinese growth rattled investors after a recovery that Wall Street did not recover overnight.
KEEPING THE MARKER: JapanThe Nikkei 225 index dropped 2.7 percent to 22,010.78 and the Kospi in South Korea It fell 3.1 percent to 2,095.44. The Shanghai Composite Index, which closed more than 4 percent in the previous session, fell 2.6 percent to 2,584.43. The Hang Seng Index of Hong Kong fell 2.8 percent to 25,428.00. AustraliaThe S & P-ASX 200 fell 1.1 percent to 5,843.10. Shares fell in Taiwan and throughout Southeast Asia.
WALL STREET: Big losses for banks, health and energy companies caused most of the US indices to fall after Monday's initial gains. The S & P 500 index suffered its fourth consecutive loss, falling 0.4 percent to 2,755.88. The Dow Jones industrial average lost 0.5 percent to 25,317.41, while the Nasdaq compound finished 0.3 percent higher at 7,468.63. The Russell 2000 index of shares of smaller companies fell 0.2 percent to 1,539.00, its lowest close since April.
UNITED STATES GAINS: Traders are preparing for a series of earnings reports that would show how US companies are facing rising interest rates, inflation and the impact of trade disputes. About 17 percent of the companies in the S & P 500 reported earnings for the third quarter, and more than half did better than expected. This week, big names like Caterpillar, Amazon, Microsoft, Twitter and Google's parent company, Alphabet, will publish their latest results.
CHINA'S ECONOMY: Chinese benchmarks led the rally in Asian markets on Monday, but investors have since begun to value weaker-than-expected performance in the third quarter. China's economy grew at an annual rate of 6.5 percent, the slowest since 2009, according to official data. The Trump administration has raised tariffs on most Chinese products sold to the US. UU., Ranging from soy to electric cars and whiskey.
ANALYST TAKED: "Asian markets opened lower after a weak session in the US overnight, while increasing geopolitical uncertainties outweigh the optimism of earnings," Margaret Yang, market analyst at CMC Markets, said in an interview. in Singapore.
ENERGY: US benchmark crude lost 27 cents to $ 69.09 per barrel in electronic transactions on the New York Mercantile Exchange. The contract added 8 cents to reach 69.36 dollars per barrel in New York. Brent crude, used to quote international oils, fell 40 cents to $ 79.43 per barrel. In the previous session, he earned 5 cents at $ 79.83 per barrel.
COINS: The dollar weakened to 112.47 yen from 112.82 yen on Monday. The euro fell to $ 1.1450 from $ 1.1465.
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Business writer AP Alex Veiga contributed to this report.
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