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Asia stock markets fall following Wall Street slide | Asia stock markets fall following Wall Street slide |
(about 4 hours later) | |
Markets in Asia were mostly lower on Thursday after New York closed lower, led by a decline in Apple shares and energy companies. | |
After surging almost 8% on Wednesday, Japan's Nikkei was down 2.47% at 18,295.68 points in afternoon trade. | |
But investor sentiment across Asia's markets was largely down on Thursday. | |
Analysts said losses were to be expected considering Wednesday's significant gains - particularly in Japan. | |
Core machinery orders in Japan, which are a key indicator of capital expenditure, fell by 3.6% in July compared with June. | |
The renewed decline suggested that business investment may fall yet again this quarter, economists said. | The renewed decline suggested that business investment may fall yet again this quarter, economists said. |
The number "was weaker than anyone polled by Bloomberg had expected," said Japan economist Marcel Thieliant, adding that orders were the lowest since November 2014. | |
In Australia, the S&P/ASX 200 was down 2.17% at 5,107.90 points in afternoon trade, following Wall Street lower and after two sessions of gains. | |
The Australian dollar fell together with the New Zealand dollar on Thursday after New Zealand's central bank cut interest rates to 2.75% and said it may introduce further easing measures to boost its flagging economy. | The Australian dollar fell together with the New Zealand dollar on Thursday after New Zealand's central bank cut interest rates to 2.75% and said it may introduce further easing measures to boost its flagging economy. |
In China, the benchmark Shanghai Composite was down 0.59% at 3,223.20 in early afternoon trade, while Hong Kong's Hang Seng was down 2.19% at 21,649.26. | |
Official figures released on Thursday showed China's consumer price index (CPI) unexpectedly rose to 2% in August from a year ago marking a one-year high. | |
The rise was due to higher food prices. Pork prices, which weigh heavily on consumer prices in China, rose from 16.7% last year to 19.6% in August. | |
The country's producer price index (PPI) fell 5.9% - marking its 42nd consecutive month of declines - and the biggest drop since 2009. | |
The one bright spot in Asia was the Kospi in South Korea which was up 0.41% in afternoon trade at 1,942.33. |