Asian shares decline after stocks slip on Wall Street, while global bond sell-off intensifies
HONG KONG (AP) — Asian shares tumbled Wednesday after stocks slipped on Wall Street and as a bond market sell-off deepened globally. U.S. futures also declined. Tokyo’s Nikkei 225 dropped 3% to 64,278.95. SoftBank…
Asian stocks experienced a sharp decline on Wednesday, following a similar nosedive on Wall Street and a worsening global bond market sell-off. U.S. futures also saw a drop on the same day. Tokyo's Nikkei 225 fell by 3% to reach 64,278.95 points. SoftBank Group, a Japanese multinational investment company, saw its shares drop by 6.3%.
South Korea's Kospi index declined by 3.6% to 6,588.95 points. Samsung Electronics and memory chipmaker SK Hynix both lost 3.3% and 3.5% respectively. Hong Kong's Hang Seng index slipped 0.8% to 25,126.40, while Shanghai's Composite index dropped 0.9% to 3,943.22 points. Australia's S&P/ASX 200 fell by 1.1% to 8,971.90 points, and Taiwan's Taiex index declined by 1.5%.
On Tuesday, the U.S. benchmark S&P 500 had slipped by 0.7%, while the Dow Jones Industrial Average dropped by 0.8% and the tech-heavy Nasdaq composite fell by 1%. Notably, Nvidia, Amazon, and Advanced Micro Devices (AMD) were among the biggest decliners. Oil prices gained ground following the U.S.'s latest military strikes on Iran and Iran's retaliatory missile and drone attacks across the region.
With the Iran war entering its sixth month, escalating tensions between the U.S. and Iran have raised concerns over energy supplies. The Strait of Hormuz, a crucial oil transport route, remains largely closed. Brent crude, the global benchmark, traded at $95.56 per barrel, up 1%. Before the war's start in late February, it was around $72 a barrel.
Written by urgent.news from Associated Press's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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