Asian stock markets fall as gloss from Apple’s strong earnings evaporates

Tokyo: Asian markets mostly fell Thursday as the rally from news of Apple’s strong earnings that spurred record highs for the Dow Jones industrial average faded. Myriad worries over China’s rising debt, weaker commodity prices and possible rising tensions between Beijing and Washington overshadowed regional markets.

KEEPING SCORE: Japan’s benchmark Nikkei 225 edged down 0.4 percent to 20,004.00 in morning trading. Australia’s S&P/ASX 200 slipped 0.2 percent to 5,730.20. South Korea’s Kospi sank 1.6 percent to 2,389.04. Hong Kong’s Hang Seng was down 0.1 percent at 27,570.83, while the Shanghai Composite was little changed, falling less than 0.1 percent to 3,283.32.

WALL STREET: The Dow average rose 0.2 percent to a record 22,016.24. The Standard & Poor’s 500 index, a much broader market measure used by most professional investors, added less than 0.1 percent to 2,477.57. The Nasdaq composite was flat at 6,362.65. The Russell 2000 index of smaller-company stocks shed 1.1 percent to 1,412.90.

ENERGY: Benchmark U.S. crude fell 9 cents to $49.50 a barrel in electronic trading on the New York Mercantile Exchange. It added 43 cents to $49.59 overnight. Brent crude, the international standard, fell 15 cents to $52.21 a barrel in London.

Article continues after this advertisement

CURRENCIES: The dollar fell to 110.66 yen from 110.69 yen late Wednesday in Asia. The euro fell to $1.1845 from $1.1856.

- Advertisement -
- Advertisement -

Must Read

Status quo policy rate: 9.75%

The State Bank of Pakistan (SBP) held its benchmark interest rate at 9.75% on Monday signaling a pause in the tightening cycle. "There's no need...