Asian shares sink after Wall Street sell-off

Published: December 05, 2018 10:58:24 | Updated: December 22, 2018 11:37:39

File Photo (Collected)

Asian stocks sank Wednesday after Wall Street plunged amid confusion about what Washington and Beijing agreed to in a tariff cease-fire.

Hong Kong’s Hang Seng index fell 1.6 per cent to 26,840.74 points and the Shanghai Composite Index lost 0.7 per cent to 2,647.55. Tokyo’s Nikkei 225 lost 0.4 per cent to 21,946.94.

Sydney’s S&P-ASX 200 retreated 1.2 per cent to 5,641.50. Seoul’s Kospi shed 0.6 per cent to 2,102.17 and benchmarks in Taiwan, New Zealand and Southeast Asia also declined, reports AP.

The S&P 500 slid 3.2 per cent to 2,700.06. The Dow Jones Industrial Average lost 3.1 per cent to 25,027.07. The Nasdaq composite lost 3.8 per cent to 7,158.43.

Tech companies, banks and exporters including Boeing and Caterpillar all declined.

Benchmark US crude fell 53 cents to $52.72 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose 30 cents on Tuesday to close at $53.25.

Brent crude, used to price international oils, lost 63 cents to $61.45 per barrel in London. It gained 39 cents the previous session to $62.08.

The dollar gained to 112.95 yen from Wednesday’s 112.78 yen. The euro declined to $1.1330 from $1.1343.

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