Asia-Pacific equity markets traded mostly lower on Thursday, tracking renewed weakness in United States technology shares as the sell-off in growth stocks continued to ripple through global markets.
By 11:55 am AEDT (12:55 am GMT), Australia’s S&P/ASX 200 index was down 0.2%, Japan’s Nikkei 225 edged up 0.1%, while South Korea’s KOSPI 200 fell 2.2%.
Economic data from Australia showed an improvement in the country’s trade position. The seasonally adjusted balance on goods rose by $776 million, widening the surplus to A$3.37 billion, according to fresh data from the Australian Bureau of Statistics (ABS).
Goods credits, representing exports, increased by $440 million, or 1.0%, driven primarily by metal ores and minerals.
Goods debits, which reflect imports, declined by $336 million, or 0.8%, led by a fall in other merchandise goods.
The regional moves echoed a mixed session on Wall Street overnight. In the United States on Wednesday, the Dow Jones Industrial Average rose 0.5%, while the S&P 500 fell 0.5% and the Nasdaq Composite declined 1.5%, as technology stocks extended their recent retreat.
Commodity markets were firmer. Brent crude rose 3.2% to settle at US$69.46 per barrel, while spot gold added 0.4% to finish at US$4,964.46 per ounce, amid continued demand for safe-haven assets.
Elsewhere in Asia, Chinese mainland equities had closed higher earlier in the week. On Wednesday, the Shanghai Composite gained 0.9% to 4,102.2, and the CSI 300 rose 0.8% to 4,698.7.
Hong Kong’s Hang Seng Index edged up 0.1% to 26,847.3, while India’s BSE Sensex added 0.1% to 83,817.7.
European markets also delivered mixed performances. The UK’s FTSE 100 rose 0.9% to a record closing high of 10,402.3. Germany’s DAX fell 0.7% to 24,603.0, while France’s CAC 40 advanced 1% to 8,262.2.
