Asian shares edge down despite Wall Street gains

Published: October 04, 2018 12:32:11 | Updated: October 06, 2018 12:53:35

File Photo (Collected)

Asian shares fell on Thursday despite a strong day on Wall Street that was spurred by encouraging signs on US hiring and growth in the service sector.

Hong Kong's Hang Seng index sank 1.8 per cent to 26,612.23 and Japan's Nikkei 225 index lost 0.7 per cent to 23,941.51. The Kospi in South Korea sank 1.4 per cent to 2,277.24.

In Australia, the S&P ASX 200 jumped 0.6 per cent to 6,184.20. Shares fell in Taiwan, Singapore and Thailand. Markets in mainland China are closed for a weeklong holiday.

US stocks ended slightly higher. The S&P 500 index added 0.1 per cent to 2,925.51. The Dow Jones Industrial Average gained 0.2 per cent to 26,828.39, another all-time high.

The Nasdaq composite picked up 0.3 per cent, to 8,025.09.  The Russell 2000 index of small-company stocks climbed 0.9 per cent to 1,671.29.

The yield on the 10-year Treasury note rose to 3.18 per cent, its highest since July 2011 and up from 3.05 per cent a day earlier.

Benchmark US crude fell 17 cents to $76.24 per barrel in electronic trading on the New York Mercantile Exchange. It jumped 1.6 per cent to settle at $76.41 a barrel in New York.

US crude has hit four-year highs this week. Brent crude, used to price international oils, lost 16 cents to $86.13 per barrel. It rose 1.8 per cent at $86.29 a barrel in London.

The dollar fell to 114.25 from 114.48 yen. The euro fell to $1.1473 from $1.1475.

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