Asian Stock Markets Mixed On Overnight Wall Street Drop

Asian stock markets turned in a mixed performance in light trading Thursday, as Hong Kong gained but Japan fell on a weaker U.S. dollar, and Shanghai also declined. Other regional exchanges were also uneven, following the overnight drop on Wall Street.

In Tokyo, the Nikkei 225 fell 1.32% after Wall Street fell overnight and the yen rose in same-day trading against the U.S. dollar, the latter regarded as a negative in export-oriented Japan.

Electronics-and-industrial conglomerate Toshiba (TOSBF, 6502:Tokyo) again led losers, off 17.5% and marking its third-straight day of double-digit losses following news that the company will report losses on North American nuclear power-plant operations.

In other news, Japan’s GDP rose 0.4% in the month in November, the third-straight monthly gain, reported the Japan Center for Economic Research. Exports rose 3.3% on the strength of Asian consumption. Bank of Japan Governor Haruhiko Kuroda said the global economy is growing, but his 2% inflation target for Japan will likely not be hit in 2017.

By BDL Contributor