May 30, 2024
05:31
05:31
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Hong Kong's Hang Seng, China's CSI 300 traded near flatline
Asia-Pacific markets saw significant declines as investors brace for upcoming economic data. Japan and South Korea are due release industrial production figures on Friday, while China will announce official Purchasing Managers Index for May. Meanwhile, rising US Treasury yields pressured major indexes overnight. Japan's Nikkei 225 lead losses in Asia markets, falling by around 1.6%. The broader Topix, South Korea's Kospi and smaller cap Kosdaq all fell. Australia's ASX/S&P 200 extended decline from the previous session, falling by 0.42%. Meanwhile, Hong Kong's Hang Seng index and mainland China's CSI 300 index were trading near the flatline. Overnight in the US, all three major indexes experienced declines, pressured by rising Treasury yields. The Dow Jones Industrial Average fell just over 1%, while the S&P 500 dipped 0.74%, marking its first negative session in the past three. The Nasdaq Composite also slipped 0.58%. Oil prices also dropped on Thursday as markets awaited the latest US crude oil stockpiles data amid concerns about prolonged high borrowing costs affecting demand. Brent futures fell by 0.1% to 83 dollars-52cents per barrel.
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