Radiocor News

Asian shares close lower, extend selloff

Tokyo Nikkei 225 down 1.11%, S&P ASX 200 down 0.16% (Il Sole 24 Ore Radiocor) - Tokyo , 24 Jul - Asian shares closed lower after losses on Wall Street overnight, with MSCI's broadest index of Asia-Pacific shares outside Japan down 0.42%. The benchmark index shed 3% last week.

In Asian stock market dealings technology shares weighed, extending last week's losses as yesterday's rebound lost steam.

Underwhelming earnings in the US and persistent uncertainty over the US presidential race kept sentiment in check.

Japanese PMI data showed a contraction in manufacturing activity in July, while the services sector rebounded sharply into expansion.

Australia's ASX 200 closed slightly lower as purchasing managers index data showed manufacturing and services activity in the country likely slowed in July.

Chinese stocks fell to an over two-week low as sentiment was dampened by recent disappointing growth data, an underwhelming interest rate cut by the People's Bank, a disappointing Third Plenum of the Chinese Communist Party and uncertainty over the US presidential race.

The Nikkei index closed down 1.11% at 39,154 points, in Sydney the S&P ASX 200 closed down 0.16% at 7,958 points, while in Seoul the KOSPI closed down 0.56% at 2,758 points.

The Shanghai Composite index was down 0.33% at 2,905 points and the Hong Kong Hang Seng index was down 1.07% at 17,283 points. In Mumbai the Sensex index slid 0.37% to 80,133 points.

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(RADIOCOR) 24-07-24 09:23:44 (0236) 5 NNNN

 


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