Asian stocks mixed as data casts gloomy outlook
Asian stocks were mixed earlier on Thursday as some indexes retreated from gains made in the previous session.
Japan’s Nikkei slipped 0.10% at 11:30 PM ET (4:30 AM GMT). The country’s Minister of Finance reported a 21.9% plunge in exports for April year-on-year. Prime Minister Shinzo Abe is expected to come to a decision on whether to lift the state of emergency in Osaka, Kyoto, and Hyogo later on Thursday. Tokyo, Kanagawa, Chiba, and Hokkaido are currently under the state of emergency.
South Korea’s KOSPI inched up by 0.51%.
Hong Kong’s Hang Seng Index fell by 0.02%. It had gained in a previous session after the U.S. Senate passed a bill on Wednesday that prevented listing Chinese companies that did not comply with security laws and auditing regulations in U.S. exchanges.
The bill, if signed into law, could prove to be beneficial for the Hong Kong Stock Exchange as more Chinese companies would potentially turn out to be listed in Hong Kong instead.
China’s Shanghai Composite gained 0.05%, while the Shenzhen Composite climbed by 0.28%.
Down under, the ASX index slid by 0.05%, also losing earlier gains.