U.S. data weighs on Asian stocks; Nikkei down 0.51%
Published May 01, 2013 10:57PM ET
In Asian trading Thursday, Japan’s Nikkei 225 fell 0.51% USD/JPY inched lower, putting some pressure on Japanese exporters in the process.
Hong Kong’s Hang Seng slipped 0.36% while the Shanghai Composite lost 0.43%. Those exchanges reopened Thursday after being closed for a public holiday on Wednesday.
Thursday represented the first chance for traders in Hong Kong and China to react to the fact that China said its manufacturing purchasing managers' index ticked down to 50.6 in April from 50.9 in March. Analysts expected a reading of 50.7. The report was delivered Wednesday.
Australia's S&P/ASX 200 Index slid 0.80% after the Australian Bureau of Statistics said its Australian Import Price Index was unchanged at 0% last month. Analysts expected a reading of -0.5%.
In a separate report, the Bureau of Statistics said that Australian building approvals fell 5.5% in March. Economists expected an increase of 1.5%. NZD/JPY fell 0.22% to 82.60.
BHP Billiton, the world’s largest mining company, was among the laggards in Sydney Thursday. On Wednesday, Australian Treasurer Swan said it could be dangerous for the country to intervene in the forex market to attempt to weaken the Australian dollar.
New Zealand’s NZSE 50 fell 0.51% on slack risk appetite. The kiwi came under pressure following disappointing results from the latest GlobalDairyTrade auction. The auction showed a 10% decline in the price of whole milk powder, a major export of New Zealand to China.
South Korea’s Kospi retreated 0.39% while Singapore’s Straits Times Index was the regional standout with a gain of 0.47%. S&P 500 futures rose 0.25% a day after the benchmark U.S. index fell 0.93%.
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Written By: Investing.com
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