Stock market today: Asian shares extend losses, while Japan's Nikkei pushes higher
CTV
Shares were mostly lower in Asia on Thursday as worries about the U.S. economy and a possible default on U.S. government debt pulled Wall Street lower.
Shares were mostly lower in Asia on Thursday as worries about the U.S. economy and a possible default on U.S. government debt pulled Wall Street lower.
Japan's benchmark Nikkei 225 index advanced 0.4% to 30,801.13, extending recent gains as investors bet on higher returns from Japanese companies.
Hong Kong's Hang Seng sank 2% to 18,739.03 as investors fretted over the trajectory for China's economic recovery after the government relaxed pandemic restrictions late last year. The Shanghai Composite index also fell, by 0.5% to 3,188.34.
Simmering tensions between China and the United States over technology and security have added to uncertainties.
In Seoul, the Kospi shed 0.5% to 2,554.69, while Australia's S&P/ASX 200 gave up 1.1% to 7,138.20. India's Sensex declined 0.2%.
Taiwan's benchmark Taiex jumped 0.8% on gains for major computer chip makers. Taiwan Semiconductor Manufacturing Co., the world's largest, surged 3.4%.
On Wednesday, the S&P 500 lost 0.7% after House Speaker Kevin McCarthy said Republicans and Democrats remain far apart in talks on raising the debt ceiling to prevent a potentially disastrous default on the U.S. government's debt.
