Asian stocks markets retreat after Wall Street loss

Traders work at the New York Stock Exchange, Thursday, Dec. 22, 2016, in New York. U.S. stocks are lower Thursday morning as health care companies take more losses. (AP Photo/Mark Lennihan)
Stock trader Luke Scanlon, right, works at the New York Stock Exchange, Thursday, Dec. 22, 2016, in New York. U.S. stocks are lower Thursday morning as health care companies take more losses. (AP Photo/Mark Lennihan)

BEIJING — Asian markets were lower Friday after Wall Street fell for a second day as ahead of the Christmas holiday.

KEEPING SCORE: Hong Kong's Hang Seng index lost 0.6 percent to 21,506.05 and Shanghai Composite Index was off 0.5 percent at 3,124.10. Japanese markets were closed for a holiday. Sydney's S&P-ASX 200 lost 0.4 percent to 5,620.61 and Seoul's Kospi was off just under 1 point at 2,036.43. Benchmarks in Taiwan and Jakarta also retreated. New Zealand and other Southeast Asian markets advanced.

WALL STREET: Retailers pulled U.S. stocks lower after a record close for the Dow Jones industrial average earlier in the week. Investors dumped retailers including Bed Bath & Beyond, Target, Staples and Dollar Tree. Companies linked to investor Carl Icahn climbed after he was named as an adviser to President-elect Donald Trump. The Dow shed 23.08 points, or 0.1 percent, to 19,918.88. The Standard & Poor's 500 index lost 4.22 points, or 0.2 percent, to 2,260.96. The Nasdaq composite dipped 24.01 points, or 0.4 percent, to 5,447.42.

ANALYST'S TAKE: "Santa has taken a leave of absence into the end of the week with a pullback seen on Wall Street and certainly has a huge portion of the market as low volume remains the theme," said Jingyi Pan of IG in a report. "Traders have been closing their position into the end of the year and have brought down most of the sectors on the S&P 500 index with the exception of energy and defensives - telecommunications and utilities. Asian indices could remain depressed into the end of the year."

ENERGY: Benchmark U.S. crude lost 29 cents to $52.66 per barrel in electronic trading on the New York Mercantile Exchange. The contract gained 46 cents on Thursday to $52.95. Brent crude, used to price international oils, fell 31 cents to $54.74 in London. It rose 59 cents the previous session to $55.05.

CURRENCY: The dollar edged up to 117.47 yen from Thursday's 117.45 yen. The euro improved to $1.0444 from $1.0439.

Must Read

China exports shrink as Trump trade tensions loom

Jan 13, 2017

China's exports fell back into contraction again last month, signaling renewed weakness for the...

Asian stocks directionless, dollar steadies after slide

Jan 18, 2017

Most Asian stock indexes are lacking direction following a sharp correction overnight in the dollar...

World stocks turn lower as investors monitor volatile dollar

Jan 18, 2017

World stocks are mostly lower after a sharp drop in the dollar sapped investor enthusiasm

Asian shares rise in thin trade as markets watch Trump

Jan 27, 2017

Asian stocks are drifting mostly higher in quiet trading as traders and investors prepared for the...

Asian shares waver, dollar soft after Fed keeps rates steady

Feb 2, 2017

Asian markets are wavering and the dollar has lost some steam after the Fed kept its key lending...

People also read these

DEA opens shop in China to help fight synthetic drug trade

Jan 6, 2017

The U.S. Drug Enforcement Administration plans to open a new office in southern China and, at...

China pledges further cuts in excess steel, coal production

Jan 10, 2017

China's top economic planner has pledged to continue cutting steel and coal production, which have...

Global stocks slip amid concern over Trump policies on trade

Jan 23, 2017

Major global stock markets are lower after Donald Trump took office as U.S. president and promised...

China faces political conflicts in moves to cut debt burden

Jan 25, 2017

Chinese leaders face conflicting political pressures as they begin tackling a swelling mountain of...

Global stocks rise on robust US jobs report

Feb 3, 2017

Global stocks are up after the U.S. employment report showed a strong increase of 227,000 jobs in...

AseanCoverage is a next-gen news site focusing exclusively on online news from South East Asia.

Contact us: sales@aseancoverage.com