Asian shares fall as Chinese growth concerns sink in


FE Team | Published: October 23, 2018 11:32:12 | Updated: October 24, 2018 13:54:12


Asian share markets retreat

Asian share markets retreated on Tuesday as worries about softening Chinese growth rattled investors, following a rally that was not picked up by Wall Street overnight.

Japan's Nikkei 225 index gave up 2.0 per cent to 22,154.29 and the Kospi in South Korea tumbled 2.4 per cent to 2,108.77. The Shanghai Composite index fell 1.4 per cent to 2,616.55.

Hong Kong's Hang Seng index dropped 2.0 per cent to 25,622.83. Australia's S&P-ASX 200 dipped 0.9 per cent to 5,852.00. Shares fell in Taiwan and throughout Southeast Asia, reports AP.

US stocks indexes slipped. The S&P 500 index suffered its fourth straight loss, dropping 0.4 per cent to 2,755.88. The Dow Jones Industrial Average lost 0.5 per cent to 25,317.41.

The Nasdaq composite finished 0.3 per cent higher at 7,468.63. The Russell 2000 index of smaller-company stocks shed 0.2 per cent to 1,539.00, its lowest close since April.

Benchmark US crude lost 12 cents to $69.24 per barrel in electronic trading on the New York Mercantile Exchange. The contract added 8 cents to settle at $69.36 a barrel in New York.

Brent crude, used to price international oils, fell 33 cents to $79.50 per barrel. In the previous session, it gained 5 cents to $79.83 a barrel.

The dollar weakened to 112.57 yen from 112.82 yen on Monday. The euro fell to $1.1457 from $1.1465.

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