Asia Markets: Asian markets little changed as Japan reports plunge in exports
Nikkei nearly flat, while Hang Seng inches up
Asian markets were little changed in early trading Thursday, after Wall Street bounced back and Japan reported miserable exports data.
inched down slightly, while Hong Kong’s Hang Seng Index
eked up a bit. The Shanghai Composite
rose 0.1% while the Shenzhen Composite
slid 0.1%. South Korea’s Kospi
gained 0.5%, and benchmark indexes in Taiwan
rose. Australia’s S&P/ASX 200
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
advanced 369.04 points, or 1.5%, to finish at 24,575.90. The S&P 500
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
rose 190.67 points, or 2.1%, closing at 9,375.78.
rose slightly to 107.63 yen..