Asian markets edged slightly lower on Thursday, with regional stock indexes recording slight losses after Wall Street declined amid concerns over heightened trade tensions.
The Nikkei 225 eased 0.18 percent as the yen firmed. Major exporters were mixed, with Toyota up 0.29 percent and Sony higher by 0.44 percent, while the manufacturing sector was downbeat. The broader Topix was off by 0.2 percent.
Against the yen, the dollar extended losses to trade at 106.11, below the 106.2 handle seen in the last session.
Across the Korean Strait, the Kospi slipped 0.12 percent. Several blue chip names notched early gains despite the broader market sentiment, with Samsung Electronics rising 0.35 percent.
In Sydney, the S&P/ASX 200 shed 0.25 percent as losses in the heavily weighted financials subindex, which traded lower by 0.84 percent, weighed on the broader index.
On the earnings front, corporates due to report results on Thursday include Hong Kong’s Swire Pacific and Taiwanese iPhone assembler Pegatron. China’s ZTE and China Unicom are also slated to report.
Asian stock indexes had closed lower in the last session as markets digested news of Rex Tillerson’s ouster from the State Department and amid talk of potential additional U.S. tariffs. The latter overshadowed the release of better-than-expected industrial output and fixed-asset investment data out of China.
Major U.S. stock indexes all recorded declines, with the Dow Jones industrial average falling 1 percent, or 248.91 points, to close at 24,758.12.
Shares of Boeing fell 2.5 percent following news of potential trade measures, which could include investment restrictions and indefinite tariffs, being considered against China by President Donald Trump. Trump could implement tariffs on $60 billion worth of Chinese goods, according to Reuters.
The White House on Wednesday also said the Trump administration wanted China to reduce its trade surplus with the U.S. by $100 billion, and not the $1 billion figure Trump had tweeted last week.
The dollar index, which tracks the greenback against a basket of rival currencies, stood at 89.715 at 8:03 a.m. HK/SIN.
Oil prices held onto overnight gains after data on Wednesday showed U.S. crude inventories rose more than expected, while gasoline inventories dropped more than forecast. U.S. crude futures edged up 0.1 percent to trade at $61.02 per barrel and Brent crude futures tacked on 0.12 percent to trade at $64.97.
Here’s the economic calendar for Thursday (all times in HK/SIN):
- 10:30 a.m.: Singapore unemployment rate
- 12:00 p.m.: Indonesia balance of trade
