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Nikkei's tumble leads Asian shares lower | Nikkei's tumble leads Asian shares lower |
(about 1 hour later) | |
Asian shares opened lower on Thursday after Wall Street tumbled on US economic data, fuelling growth concerns. | Asian shares opened lower on Thursday after Wall Street tumbled on US economic data, fuelling growth concerns. |
Data from the US showed retail sales and producer prices both fell in September, dimming expectations of a interest rate hike by the central bank. | Data from the US showed retail sales and producer prices both fell in September, dimming expectations of a interest rate hike by the central bank. |
The S&P 500 fell as much as 3%, briefly turning negative for the year before closing down 0.8%. | The S&P 500 fell as much as 3%, briefly turning negative for the year before closing down 0.8%. |
Japan's shares fell more than 2% to a four-and-a-half-month low. | Japan's shares fell more than 2% to a four-and-a-half-month low. |
In early trading the Nikkei 225 was at 14,751.77. The dollar was at 105.92 yen, flat from New York trade. | |
Among the losers were shares of Toyota, down over 2% after the automaker issued a recall of 1.75 million vehicles on Wednesday. | |
Hong Kong shares opened down almost 1% as the Hang Seng Index fell 226.55 points to 22,913.50. | Hong Kong shares opened down almost 1% as the Hang Seng Index fell 226.55 points to 22,913.50. |
On the mainland, the Shanghai Composite fell 0.5% to 2,451.65 points after data showed that the rate of inflation in September fell, adding to evidence of a slowing economy. | On the mainland, the Shanghai Composite fell 0.5% to 2,451.65 points after data showed that the rate of inflation in September fell, adding to evidence of a slowing economy. |
In Australia, the benchmark S&P/ASX 200 was lower 1% at 5,194.80 points. | In Australia, the benchmark S&P/ASX 200 was lower 1% at 5,194.80 points. |
Shares of Woodside Petroleum, Australia's largest independent oil and gas producer, were lower 0.1% despite its third quarter production results beating forecasts. | Shares of Woodside Petroleum, Australia's largest independent oil and gas producer, were lower 0.1% despite its third quarter production results beating forecasts. |
In South Korea, shares followed the global downtrend. | In South Korea, shares followed the global downtrend. |
The benchmark Kospi was down 0.7% after the Bank of Korea cut its interest rate for the second time in three months on Wednesday, and also downgraded its growth forecasts for the economy for this year. | The benchmark Kospi was down 0.7% after the Bank of Korea cut its interest rate for the second time in three months on Wednesday, and also downgraded its growth forecasts for the economy for this year. |