Asian shares fall despite upbeat Japanese economic data

Published: August 10, 2018 11:46:23

Asian shares were lower on Friday, tracking losses on Wall Street, despite the release of data showing Japan's economy resumed its longtime expansion in the last quarter.

Japan's Nikkei 225 index lost 0.7 per cent 22,444.10 and Hong Kong's Hang Seng gave up 0.5 per cent to 28,473.94. The Shanghai Composite index fell 0.1 per cent to 2,790.53.

Australia's S&P ASX 200 declined 0.2 per cent to 6,287.70. India's Sensex fell 0.2 per cent to 37,944.19. Shares were lower in Taiwan, Thailand and Singapore but rose in Indonesia, reports AP.

The S&P 500 edged 0.1 per cent lower to 2,853.58. The Dow Jones Industrial Average slipped 0.3 per cent to 25,509.23.

The Nasdaq composite inched higher, adding 3.46 points to 7,891.78, notching its eighth gain in a row. The Russell 2000, an index of smaller companies, added 4.01 points, or 0.2 per cent, to 1,690.89.

Crude prices have stabilised after dropping 3.0 per cent at midweek. Benchmark US crude oil picked up 6 cents to $66.87 a barrel in electronic trading on the New York Mercantile Exchange. It dipped 0.2 per cent to $66.81 a barrel in New York.

Brent crude, the standard for international oil prices, added 14 cents to $72.21 a barrel. It lost 0.3 per cent to $72.07 per barrel in London.

The dollar fell to 110.78 yen from 111.09 yen after the report of strong second-quarter growth data. The euro fell to $1.1519 from $1.1526.

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