Stocks were mostly lower in Asia on Thursday after Japan and China released data that were weaker than expected.
Tokyo’s Nikkei 225 index NIK, -0.79% dropped 0.6% while the Hang Seng HSI, -1.87% in Hong Kong declined 1.3%. The Shanghai Composite index SHCOMP, -0.68% gave up 0.6% and the Kospi 180721, -0.69% in Seoul lost 0.7%.
Relative weakness in vehicle exports might reflect shortages of semiconductors and other components that have prompted some manufacturers to cut output, he noted. On Wednesday, energy and technology companies helped lift stocks on Wall Street broadly higher, reversing the market’s pullback from a day earlier.
The yield on the 10-year Treasury was steady at 1.30%. Higher yields benefit banks, which can in turn charge more lucrative interest rates on loans. Citigroup rose 2.4% and Capital One Financial gained 2.9%.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China blasts U.S.' 'cliques' before planned meeting with Japan, India and AustraliaThe meeting between the four regional players comes as China has increased its assertiveness in the East and South China seas.
Read more »
Macau Casino Stocks Shed $18 Billion In Value As China Moves To Tighten Gambling RulesShares of the six biggest casino operators in Macau, the world’s biggest gambling hub, dropped 23% after a government notice was issued proposing new, tighter regulations.
Read more »
Japan condemns North Korea’s ballistic missile launch as ‘outrageous’ and a ‘threat’ to the regionNorth Korea launched ballistic missiles off its east coast on Wednesday, prompting condemnation from Japanese Prime Minister Yoshihide Suga.
Read more »
Yum China fries up bucket of consumption woesYum China (9987.HK) has bad news for China’s economy. The $26 billion operator of Pizza Hut, KFC and Taco Bell in the People’s Republic warned that the rapid spread of the Delta variant would cause its adjusted operating profit to drop by about 50-60% year-on-year in the third quarter. The recent outbreak, which has impacted 16 provinces, per Yum, has officials in China locking back down, even though Reuters Covid Tracker shows the country is reporting an average of 39 new cases per day, 1% of the peak, with no deaths reported since April. Nevertheless Yum either closed or halted dine-in service at more than 500 stores in August.
Read more »
Mark Milley's alleged China call 'violated the law', retired colonel says; 'He has no statutory authority'Retired Army colonel Douglas Macgregor told 'Tucker Carlson Tonight' that if allegations Joint Chiefs of Staff Chair Mark Milley assured China he would warn them if Trump were to launch a military strike, it would be a violation of the law.
Read more »