Asian shares were mixed Thursday after U.S. stocks closed lower, giving back some of its gains a day after the S&P 500 and Nasdaq hit record highs.
Japan’s benchmark Nikkei 225
edged up 0.3% in early trading. South Korea’s Kospi
fell about 0.2%. Hong Kong’s Hang Seng
inched up 0.1%, while the Shanghai Composite
fell 0.3%. Indexes in Taiwan
were a mixed bag. Australia’s trading was closed for Anzac Day, a national holiday.
Among individual stocks, Nintendo
rose in Tokyo trading, as did Sony
. Meanwhile, food manufacturer Kikkoman
fell, along with Nomura Holdings
. In Hong Kong, real-estate companies continued to rise, with Sun Hung Kai Properties
and Country Garden
advancing, while Geely Automobile
and oil producer CNOOC
fell. Chip maker SK Hynix
gained in South Korea as it posted a 69% drop in first-quarter profit, but forecast chip demand to improve later this year.
Investors are also watching for the U.S. economic growth data being released later in the week.
On Wall Street, energy stocks led the modest slide as crude oil prices fell after a three-day rally. Communications companies also helped pull the market lower, offsetting gains in real estate and other sectors. Bond prices rose as traders took a more defensive approach.
Stocks wavered between small gains and losses through much of the day as investors continued to wade through a steady flow of corporate earnings.
The S&P 500 index
fell 6.43 points, or 0.2%, to 2,927.25. The benchmark index closed at a record high on Tuesday. The Dow Jones Industrial Average
dropped 59.34 points, or 0.2%, to 26,597.05. The Nasdaq composite
lost 18.81 points, or 0.2%, to 8,102.01. The index was also coming off a record high close.
Benchmark U.S. crude
lost 30 cents to $65.59 a barrel. It fell 0.6% to settle at $65.89 per barrel. Oil had been climbing recently since dropping below $43 in late December. Brent crude
fell 26 cents to $74.31 per barrel.
rose to 112.14 Japanese yen from 111.85 yen.
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Source : MTV