Advertisement
Singapore markets closed

  • Straits Times Index

    3,285.80
    -7.33 (-0.22%)
     

  • S&P 500

    5,071.63
    +1.08 (+0.02%)
     

  • Dow

    38,460.92
    -42.77 (-0.11%)
     

  • Nasdaq

    15,712.75
    +16.11 (+0.10%)
     

  • Bitcoin USD

    63,913.93
    -2,589.80 (-3.89%)
     

  • CMC Crypto 200

    1,358.71
    -23.87 (-1.73%)
     

  • FTSE 100

    8,095.44
    +55.06 (+0.68%)
     

  • Gold

    2,338.40
    0.00 (0.00%)
     

  • Crude Oil

    83.02
    +0.21 (+0.25%)
     

  • 10-Yr Bond

    4.6520
    +0.0540 (+1.17%)
     

  • Nikkei

    37,628.48
    -831.60 (-2.16%)
     

  • Hang Seng

    17,284.54
    +83.27 (+0.48%)
     

  • FTSE Bursa Malaysia

    1,569.80
    -1.68 (-0.11%)
     

  • Jakarta Composite Index

    7,161.24
    -13.29 (-0.19%)
     

  • PSE Index

    6,574.88
    +2.13 (+0.03%)
     

Asian Markets Mixed; KOSPI Slips on Weak GDP Data

Investing.com

Investing.com - Asian markets were mixed in morning trade on Thursday. Chinese stocks continued to underperform while South Korea’s KOSPI slipped following the release of weak GDP data.

China’s Shanghai Composite and the SZSE Component were down 0.5% and 0.6% respectively by 10:45PM ET (02:45 GMT). Hong Kong’s Hang Seng Index traded near flat.

Chinese stocks were under pressure this week as traders questioned the likelihood of further stimulus in China after a politburo statement issued on Monday said regulators are getting increasingly concerned of asset bubbles.

Trade headlines are in focus as China and the U.S. prepare for another round of trade talks next week.

ADVERTISEMENT

The discussions “will cover trade issues including intellectual property, forced technology transfer, non-tariff barriers, agriculture, services, purchases and enforcement,” according to a White House statement.

South Korea’s KOSPI slipped 0.1% after data showed the country’s GDP shrank the most in a decade in the first quarter of 2019.

Exports, which account for about half of Korea’s GDP, were weaker than expected amid weak demand from China, the nation’s biggest market.

Chipmaker SK Hynix Inc (KS:000660) surged 2% after the company reported a 69% drop in first-quarter operating profit, which was in line with expectations, but added that it expects demand for memory chips to recover later this year.

Meanwhile, LG Electronics Inc (KS:066570) also rose as much as 2.5% following the company’s announcement that it would move manufacturing to Vietnam, a lower cost location. The move could boost annual production capacity by 83%, the company said.

Japan’s Nikkei 225 rose 0.4%. The Bank of Japan is set to release its monetary policy statement later in the day. Markets widely expect the central to keep interest rates unchanged.

Prime Minister Shinzo Abe will meet leaders of the European Union today and U.S. President Donald Trump later this week.

Down under, Australia’s markets are closed due to a holiday.

Related Articles

Panasonic may upgrade Japan plant to make advanced Tesla batteries: source

Sunny Portugal: A gateway to Europe's medical pot market

Ex-Nissan boss Ghosn to walk free, again, after court sets bail at $4.5 million