Asian stocks dip on economy worries

Tokyo, April 26 (BNA): Most Asian stocks fell as concerns grew about the health of global economies after a slump on Wall Street, despite some better-than-expected earnings reports.

The Associated Press (AP) reported that Tokyo, Sydney, Seoul and Shanghai fell while Hong Kong posted gains in early trade.

Japan’s Nikkei 225 fell 0.5% in morning trade, to 28,469.08.

Australia’s S&P/ASX 200 Index was down 0.1%, at 7,317.70.

South Korea’s Kospi Index fell less than 0.1%, to 2,488.69.

Hong Kong’s Hang Seng Index rose 0.7% to 19,745.80.

The Shanghai Composite Index lost 0.3%, to 3,254.69 points.

The S&P 500 fell 1.6% to 4,071.63, breaking a weeks-long lull.

The Dow Jones Industrial Average fell 1%, to 33,530.83.

The Nasdaq Composite fell 2% to 11,799.16.

In the bond market, the yield on the 10-year Treasury fell to 3.39% from 3.50% late Monday.

Helps determine rates for mortgages and other important loans.

The two-year yield, which moves further based on Fed action expectations, fell to 3.95% from 4.11%.

In energy trade, US crude added 41 cents to $77.48 a barrel.

Brent crude, the international benchmark, rose 31 cents to $81.08 a barrel.

In currency trading, the US dollar fell to 133.54 yen from 133.72 yen.

The price of the euro reached $1.0981, down slightly from $1.0977.


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