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Asian stocks fall ahead of US-China trade talks

Published: July 26, 2019 14:25:34 | Updated: July 29, 2019 13:53:03


File Photo (Collected)

Asian shares are lower Friday as investors continued to watch the brewing trade conflict between China and the US, and any signs of what’s in store from central banks.

Japan’s benchmark Nikkei 225 slid 0.6 per cent to 21,629.03 in afternoon trading. Australia’s S&P/ASX 200 lost 0.3 per cent to 6,801.00. South Korea’s Kospi slipped 0.6 per cent to 2,062.34.

Hong Kong’s Hang Seng was down 0.5 per cent to 28,448.10, while the Shanghai Composite was little changed but edged down less than 0.1 per cent to 2,936.26, reports AP.

US stocks retreated from record highs on Wall Street Thursday as large companies delivered weak earnings and disappointing forecasts.

The S&P 500 index fell 15.89 points, or 0.5 per cent, to 3,003.67. The Dow Jones Industrial Average fell 128.99 points, or 0.5 per cent, to 27,140.98. The Nasdaq composite fell 82.96 points, or 1 per cent, to 8,238.54.

More than 36 per cent of S&P 500 companies have reported their latest financial results and investors are still expecting a contraction in overall profit.

That would mark the second quarter in a row of lower earnings.

Benchmark crude oil gained 19 cents to $56.21 a barrel. It rose 14 cents to settle at $56.02 a barrel Thursday. Brent crude oil, the international standard, added 7 cents to $63.33 a barrel.

The dollar rose to 108.63 Japanese yen from 108.10 yen on Thursday. The euro strengthened to $1.1148 from $1.1108.

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