Asian shares mostly decline, as investors watch spending, inflation

Tokyo, Nov. 27 (BNA): Asian shares retreated Monday as investors awaited updates on consumer spending and inflation in the U.S. and other nations.

 

Japan’s benchmark Nikkei 225 dipped 0.4% in morning trading to 33,479.71 after the producer price index in October came in a little higher than expected, at 2.3%, the Associated Press (AP) reported.

 

In China, industrial profits declined less than last year, at minus 7.8% in October.

 

Hong Kong’s Hang Seng dropped 1.0% to 17,382.28, while the Shanghai Composite lost 0.8% to 3,017.79.

 

Australia’s S&P/ASX 200 edged down 0.4% to 7,009.50. South Korea’s Kospi shed 0.2% to 2,491.20.

 

The S&P 500 inched up 0.1% on Friday, at 4,559.34, and the Dow Jones Industrial Average added 0.3% to 35,390.15.

 

The Nasdaq composite slipped 0.1% to 14,250.85, as gains in health care and financial and energy sectors tempered losses in technology stocks.

 

Chipmaker Nvidia and Google parent Alphabet were among the biggest decliners, losing 1.9% and 1.3%, respectively. Among the big gainers in the S&P 500 were CF Industries, which rose 2.6%, and Best Buy, which closed 2.2% higher.

 

In other trading early Monday, the yield on the 10-year Treasury, which influences interest rates on mortgages and other loans, rose to 4.50% from 4.47%.

 

Benchmark U.S. crude declined 66 cents to $74.88 barrel in electronic trading on the New York Mercantile Exchange. It fell $1.56 to $75.54 a barrel on Friday.

READ MORE  UK inflation hits 41-year high as Hunt readies tough budget

 

Brent crude, the international standard, fell 62 cents to $79.86 a barrel.

 

The U.S. dollar inched down to 148.96 Japanese yen from 149.53 yen. The euro cost $1.0945, little changed from $1.0944.

 


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