Asian shares turn lower despite Wall St rally

Published: October 26, 2018 12:50:09 | Updated: October 29, 2018 10:58:44

File Photo (Collected)

Asian shares have turned lower after early gains, despite the overnight jump on Wall Street. Worries over corporate earnings, trade and the outlook for growth weighed on sentiment.

Japan’s benchmark Nikkei 225 lost 1.1 per cent to 21,026.97 on Friday, while South Korea’s Kospi plunged 2.6 per cent to 2,010.46. Australia’s S&P/ASX 200 gave up 0.4 per cent to 5,640.60.

Hong Kong’s Hang Seng sank 1.5 per cent to 24,609.81 and the Shanghai Composite shed 0.5 per cent to 2,589.65. Shares rose in Indonesia but fell in Taiwan and elsewhere in Southeast Asia, reports AP.

US stocks ended higher. The S&P 500 index jumped 1.9 per cent to 2,705.57. The Dow Jones Industrial Average rose 1.6 per cent to 24,984.55 and the Nasdaq surged 3.0 per cent to 7,318.34.

Benchmark US crude fell 66 cents to $66.67 a barrel in electronic trading on the New York Mercantile Exchange. It gained 51 cents to $67.82 on Thursday.

Brent crude, the benchmark for international oil prices, dipped 53 cents to $76.37.

The dollar fell to 112.17 yen from 112.43 yen. The euro fell to $1.1367 from $1.1375.

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