Asian shares fall after Wall St slides

Published: April 26, 2019 14:02:04 | Updated: April 29, 2019 14:15:43

File photo (Collected)

Asian shares were mostly lower on Friday after an overnight decline on Wall Street spurred by disappointingly weak earnings reports from 3M and other industrial companies.

Concern that China may temper its economic stimulus pulled the Shanghai benchmark down 0.8 per cent to 3,099.36. Japan’s Nikkei 225 index slipped 0.5 per cent to 22,193.41.

The Kospi in South Korea declined 0.6 per cent to 2,175.89. Australia’s S&P ASX 200 edged 0.1 per cent higher to 6,388.20 while the Hang Seng in Hong Kong added 9.33 points to 29,564.49.

Shares fell in Taiwan and Singapore but rose in Jakarta, reports AP.

The S&P 500 edged 1.08 points lower to 2,926.17 while the Dow Jones Industrial average dropped 0.5 per cent, to 26,462.08. The Nasdaq composite rose 0.2 per cent to 8,118.68.

Benchmark US crude gave up 31 cents to $64.90 per barrel in electronic trading on the New York Mercantile Exchange. It lost 68 cents to $65.21 per barrel on Thursday.

Brent crude, the international standard, lost 18 cents to $73.46 per barrel.

The dollar was trading at 111.67 Japanese yen, up from 111.63 yen on Thursday. The euro was unchanged at $1.1133.

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