Asia Markets: Asian markets little changed as Japan reports plunge in exports

Asia Markets

Nikkei nearly flat, while Hang Seng inches up

A man walks past the Tokyo Tower in Tokyo on Thursday.


AFP/Getty Images

Asian markets were little changed in early trading Thursday, after Wall Street bounced back and Japan reported miserable exports data.

Japan’s Nikkei
NIK,
-0.20%

inched down slightly, while Hong Kong’s Hang Seng Index
HSI,
-0.49%

eked up a bit. The Shanghai Composite
SHCOMP,
-0.54%

rose 0.1% while the Shenzhen Composite
399106,
-0.95%

slid 0.1%. South Korea’s Kospi
180721,
+0.43%

gained 0.5%, and benchmark indexes in Taiwan
Y9999,
+0.92%

, Singapore
STI,
-0.25%

and Malaysia
FBMKLCI,
+1.18%

rose. Australia’s S&P/ASX 200
XJO,
-0.40%

was about flat.

On Wednesday, Japan reported its April exports plummeted nearly 22% while imports fell 7%, the worst monthly readings in more than a decade. Japan is the world’s third-largest economy, and fell into recession in the first quarter due to coronavirus-related shutdowns.

China, meanwhile, is pushing to jump-start jobs lost to pandemic closures. As many as 30% of China’s urban workers are estimated to have lost their jobs, Fitch Ratings said, and the Associated Press reported the government is being pressured to get the economy going again as the country’s National People’s Congress is set to meet.

U.S. stock index futures slipped Wednesday night, after the S&P 500 closed at a 10-week high earlier in the day. The Dow Jones Industrial Average
DJIA,
+1.52%

advanced 369.04 points, or 1.5%, to finish at 24,575.90. The S&P 500
SPX,
+1.66%

climbed 48.67 points, or 1.7%, to end at 2,971.61, its highest close since March 6, according to Dow Jones Market Data. The Nasdaq Composite
COMP,
+2.07%

rose 190.67 points, or 2.1%, closing at 9,375.78.

West Texas Intermediate crude
CLN20,
+1.88%

inched higher, as did Brent crude
BRNN20,
+2.01%

, the global benchmark.

The dollar
USDJPY,
+0.19%

rose slightly to 107.63 yen..

What's your reaction?
Happy0
Lol0
Wow0
Wtf0
Sad0
Angry0
Rip0
Leave a Comment

escort eskişehir escort samsun escort gebze escort sakarya escort edirne