Asian shares mixed in skittish trading after Wall St decline

The Charging Bull sculpture by Arturo Di Modica, in New York's Financial District, is shown in this photo, Wednesday, Feb. 7, 2018. The current bull market is set to turn nine years old in about a month. As of Jan. 26, the date of the last market record, the S&P 500 had more than quadrupled over that time. The market had made big gains over the last year, and many experts felt stocks were overdue for a slump. (AP Photo/Richard Drew)
Specialist Anthony Rinaldi works at his post on the floor of the New York Stock Exchange, Wednesday, Feb. 7, 2018. Stocks are opening modestly higher on Wall Street as the market stabilizes following three days of tumult. (AP Photo/Richard Drew)

SEOUL, South Korea — Asian stock markets were mixed Thursday with some benchmarks erasing early morning gains. Investors remained skittish after this week's financial turmoil and overnight losses on Wall Street.

KEEPING SCORE: Tokyo's Nikkei 225 rose 0.3 percent to 21,700.94 while South Korea's Kospi jumped 0.7 percent to 2,414.26. Hong Kong's Hang Seng index rose 0.6 percent to 30,512.92, while the Shanghai Composite index lost 0.6 percent to 3,290.62. Australia's S&P/ASX 200 was flat at 5,876.30. Stocks in Taiwan were almost unchanged and Southeast Asian markets were mixed.

ANALYST'S VIEW: "Risk sentiment continues to be wobbly in markets, with U.S. equities notching a loss at the close, while Brent prices fell sharply to $65 overnight," Mizuho Bank said in a daily commentary.

U.S. BUDGET BATTLE: Uncertainty overshadowed the fitful market recovery as Senate leaders brokered a long-sought budget agreement Wednesday that would bring the Pentagon and domestic programs an extra $300 billion over the next two years. But both Democratic liberals and GOP tea party forces were fighting the plan, raising questions about its chances just a day before the latest government shutdown deadline.

WALL STREET: Indexes rallied in the morning, bobbed up and down for much of the day, then sank in the last few minutes of trading. Energy companies dropped along with oil prices and technology companies also declined. The Standard & Poor's 500 index lost 0.5 percent to 2,681.66. The Dow edged 0.1 percent lower to 24,893.35. The tech-heavy Nasdaq composite fell 0.9 percent to 7,051.98.

ENERGY: Oil prices have seen extended losses since the U.S. government said last week that oil production jumped. Benchmark U.S. crude lost 21 cents to $61.58 per barrel in electronic trading on the New York Mercantile Exchange. The contract dropped $1.60, or 2.5 percent, to finish at $61.79 a barrel on Wednesday. Brent crude, the international standard for oil prices, dropped 15 cents to $65.36 per barrel in London. It sank $1.35, or 2 percent, to finish at $65.51 a barrel in the previous session.

CURRENCIES: The dollar edged up to 109.38 yen from 109.33 yen. The euro fell to $1.2280 from $1.2392.

Must Read

Trudeau: Canada could stop dealing with Boeing...

Sep 18, 2017

Canadian Prime Minister Justin Trudeau is warning that his government could stop doing business...

Euro 2016 generated 1.2 billion-euro boost for...

Jan 10, 2017

France says that organizing the European soccer championships last summer provided an economic...

End of the euro? French candidate plots return of...

Feb 22, 2017

What happens to the euro if Marine Le Pen actually gets elected president of France

The Latest: Trump calls France's Macron to offer...

May 8, 2017

U.S. President Donald Trump has called French President-elect Emmanuel Macron to congratulate him

On foreign policy, France's new leader is...

May 9, 2017

President-elect Emmanuel Macron has been loud and clear on his policy of keeping France at the...

People also read these

France wants halt to 'imbalanced' EU-US trade...

Aug 30, 2016

French President Francois Hollande says that talks on a landmark trade deal between the U.S. and...

French economy chief Macron, eyeing presidential...

Aug 30, 2016

French Economy Minister Emmanuel Macron, an outspoken former investment banker who has encouraged...

Letter bomb explodes at Paris IMF's office; Greek...

Mar 16, 2017

French investigators are following a Greek lead after a letter exploded Thursday at the Paris'...

On foreign policy, France's new leader is...

May 9, 2017

President-elect Emmanuel Macron has been loud and clear on his policy of keeping France at the...

The Latest: Macron says he hasn't pushed for...

May 15, 2017

French President Emmanuel Macron says he has never pushed for jointly issued eurobonds and doesn't...

About Us

Banking Reporter is the largest-circulated online business news in the United States, bringing a whole new genre of business journalism more up close and more incisive.

Contact us: sales@bankingreporter.com

Subscribe Now!