Asian shares were mostly lower Friday on looming worries over U.S. banks and lagging demand from China, the region's major driver of growth.
TOKYO — Asian shares were mostly lower Friday on looming worries over U.S. banks and lagging demand from China, the region’s major driver of growth.
“Asian equities struggled for direction after weak inflation data in China pointed to weakening demand,” said Stephen Innes, managing partner at SPI Asset Management. Australia’s S&P/ASX 200 XJO dipped 0.1% and South Korea’s Kospi 180721 dropped 0.4%. Hong Kong’s Hang Seng HSI was virtually unchanged, while the Shanghai Composite SHCOMP lost 0.4%. Markets declined in Singapore STI , Taiwan Y9999 and Indonesia JAKIDX .
Investors have been hunting for the next possible victim in the U.S. banking industry after high interest rates helped lead to three high-profile failures since March. A separate U.S. report said more workers filed for unemployment benefits last week than expected. That’s bad news for workers and adds to concerns about a potential recession because the job market has been one of the main pillars propping up the economy.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Asian stocks waver on China deflation worries, mixed Japan earningsAsian shares traded cautiously on Thursday as investors fretted about growing deflationary pressures in China and a mixed bag of Japanese earnings, while a standoff over the U.S. debt ceiling overshadowed a meeting of G7 finance leaders.
Read more »
Asian Stock Market: Uncertainty persist as investors await US Inflation, oil corrects to near $73.00Asian Stock Market: Uncertainty persist as investors await US Inflation, oil corrects to near $73.00 – by Sagar_Dua24 Asia Nikkei BOJ Inflation Oil
Read more »
Allen mall shooting alarms Asian Americans as authorities search for gunman’s motiveAs law enforcement authorities try to determine what motivated the Allen mall gunman to kill eight shoppers, Asian American and Pacific Islander residents say last weekend’s massacre has stoked distress within their communities.
Read more »
Southeast Asian leaders urge end of Myanmar violence, inclusive talksMyanmar generals remain barred from summit.
Read more »
Federal Boulevard’s Asian food bounty is constantly overflowing | Opinion'Denver’s Federal Boulevard spans an Asian and Latino cuisine paradise that only occasionally gets the high praise it deserves.' Check out this list of one of our writer's johnwenzel) favorite spots along Federal Boulevard.
Read more »
A look at Mesa’s Asian District as it continues to grow“There’s just so many more things to do. There’s a wide variety of Vietnamese, Thai, Chinese cuisines that people are able to explore and it's great,” said Anthony Amphonephong. MORE ⬇️
Read more »