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Asian markets mostly fell in early trading Thursday, as concerns about the coronavirus pandemic’s impact on the global economy continued to be felt.
Japan’s Nikkei NIK, -1.28% dropped 1.2% while South Korea’s Kospi 180721, -0.29% declined 0.6% as trading resumed following a holiday Wednesday for parliamentary elections, which the ruling Democratic Party won handily. Hong Kong’s Hang Seng Index HSI, -0.70% slipped 0.6% while the Shanghai Composite SHCOMP, -0.16% was about flat. Benchmark indexes in Singapore STI, +0.05% , Malaysia FBMKLCI, +0.01%, Taiwan Y9999, -0.40% and Indonesia JAKIDX, -2.45% declined. Australia’s S&P/ASX 200 XJO, -1.05% fell 1.4%, as jobless numbers in March came in better than expected, though April numbers are expected to be much worse, once the impact of coronavirus-related shutdowns are taken into effect.
Stocks on Wall Street ended lower Wednesday after disappointing earnings reports and dismal economic data. The Dow Jones Industrial Average DJIA, -1.86% fell 445.41 points, or 1.9%, to close at 23,504.35. The Nasdaq Composite COMP, -1.43% sank 122.56 points, or 1.4%, to 8,393.18. The S&P 500 SPX, -2.20% dropped 62.70 points, or 2.2%, to end at 2,783.36.
Benchmark U.S. crude CLK20, +0.70% gained after falling Wednesday to its lowest price since 2002. Brent crude BRNM20, +1.73% , the global standard, also rose.
The dollar USDJPY, +0.51% rose to 107.87 yen.
