World News

Australia is down greater than 2% as Asia Pacific shares decline

australia-is-down-greater-than-2-as-asia-pacific-shares-decline

SINGAPORE – Asia Pacific stocks fell in trading Friday morning after Wall Street fell overnight.

Australian stocks were down regionally, with the S & P / ASX 200 down 2.23%.

In Japan, the Nikkei 225 lost 1.41% while the Topix index lost 1.8%.

Sentiment among major Japanese manufacturers has improved in the three months to September, according to the Bank of Japan’s quarterly Tankan business sentiment survey released on Friday. The headline index for the sentiment of major manufacturers was plus 18 – an improvement over the previous quarter’s value of plus 14.

Elsewhere, South Korea’s Kospi lost 1.31%. In Southeast Asia, the Singapore Straits Times index declined about 1%.

MSCI’s broadest index for Asia Pacific stocks outside of Japan was down 0.74%.

Hong Kong markets are closed on Friday for a public holiday, while mainland China markets are closed Friday through October 7th due to Golden Week.

CNBC Pro Stock Pick and Investment Trends:

Overnight, the Dow Jones Industrial Average fell 546.80 points to 33,843.92 while the S&P 500 lost 1.19% to 4,307.54. The Nasdaq Composite lost 0.44% to 14,448.58.

Those losses on Wall Street resulted in the S&P 500 suffering its worst month since March 2020, when the pandemic sparked a major market sell-off.

Currencies and oil

The US dollar index, which tracks the greenback versus a basket of its competitors, hit 94.366 after rising below 94 earlier this week.

The Japanese yen was trading at 111.25 per dollar, stronger than yesterday around 112 against the greenback. The Australian dollar changed hands at $ 0.7227 after rebounding from below $ 0.72 yesterday.

Oil prices were higher on the morning of Friday’s Asian trading hours, with Brent international benchmark crude oil futures rising slightly to $ 78.35 a barrel. US crude oil futures gained 0.11% to $ 75.11 a barrel.

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