The Fort Worth Press - Asian stocks mostly fall, tracking global slide

USD -
AED 3.673027
AFN 68.112673
ALL 94.198378
AMD 389.366092
ANG 1.801814
AOA 913.000309
ARS 998.416897
AUD 1.528496
AWG 1.8025
AZN 1.700568
BAM 1.877057
BBD 2.018523
BDT 119.468305
BGN 1.87679
BHD 0.376794
BIF 2953.116752
BMD 1
BND 1.347473
BOB 6.908201
BRL 5.800994
BSD 0.99976
BTN 84.384759
BWP 13.658045
BYN 3.27175
BYR 19600
BZD 2.015164
CAD 1.393455
CDF 2870.999877
CHF 0.89073
CLF 0.035441
CLP 977.925332
CNY 7.242986
CNH 7.24248
COP 4389.749988
CRC 509.237487
CUC 1
CUP 26.5
CVE 105.825615
CZK 24.2045
DJF 178.031575
DKK 7.12045
DOP 60.252411
DZD 134.221412
EGP 49.386169
ERN 15
ETB 122.388982
EUR 0.954715
FJD 2.27595
FKP 0.789317
GBP 0.794331
GEL 2.740277
GGP 0.789317
GHS 15.795384
GIP 0.789317
GMD 70.999825
GNF 8617.496041
GTQ 7.717261
GYD 209.15591
HKD 7.78361
HNL 25.264168
HRK 7.133259
HTG 131.234704
HUF 392.814987
IDR 15943.55
ILS 3.70177
IMP 0.789317
INR 84.43625
IQD 1309.659773
IRR 42074.999843
ISK 139.679819
JEP 0.789317
JMD 159.268679
JOD 0.7091
JPY 154.057498
KES 129.468784
KGS 86.501234
KHR 4025.145161
KMF 472.500707
KPW 899.999621
KRW 1404.510504
KWD 0.30785
KYD 0.833149
KZT 499.179423
LAK 21959.786938
LBP 89526.368828
LKR 290.973655
LRD 180.450118
LSL 18.040693
LTL 2.95274
LVL 0.60489
LYD 4.882192
MAD 10.057392
MDL 18.23504
MGA 4666.25078
MKD 59.052738
MMK 3247.960992
MNT 3397.999946
MOP 8.015644
MRU 39.77926
MUR 46.8503
MVR 15.460191
MWK 1733.576467
MXN 20.361006
MYR 4.467973
MZN 63.9101
NAD 18.040693
NGN 1696.695737
NIO 36.786794
NOK 11.00941
NPR 135.016076
NZD 1.705801
OMR 0.384846
PAB 0.99976
PEN 3.790969
PGK 4.025145
PHP 58.939017
PKR 277.626662
PLN 4.139449
PYG 7804.59715
QAR 3.646048
RON 4.78029
RSD 112.294256
RUB 103.747172
RWF 1364.748788
SAR 3.754429
SBD 8.383555
SCR 13.699007
SDG 601.497256
SEK 10.97345
SGD 1.343205
SHP 0.789317
SLE 22.729774
SLL 20969.504736
SOS 571.332598
SRD 35.493964
STD 20697.981008
SVC 8.748021
SYP 2512.529858
SZL 18.034455
THB 34.443007
TJS 10.647152
TMT 3.5
TND 3.17616
TOP 2.342102
TRY 34.531755
TTD 6.790153
TWD 32.583499
TZS 2659.340659
UAH 41.35995
UGX 3694.035222
UYU 42.516436
UZS 12825.951341
VES 46.55914
VND 25419
VUV 118.722009
WST 2.791591
XAF 629.547483
XAG 0.031868
XAU 0.000368
XCD 2.70255
XDR 0.760497
XOF 629.547483
XPF 114.458467
YER 249.924973
ZAR 18.01705
ZMK 9001.187483
ZMW 27.617448
ZWL 321.999592
  • SCS

    0.2300

    13.27

    +1.73%

  • RELX

    0.9900

    46.75

    +2.12%

  • NGG

    1.0296

    63.11

    +1.63%

  • RIO

    -0.2200

    62.35

    -0.35%

  • GSK

    0.2600

    33.96

    +0.77%

  • BCC

    3.4200

    143.78

    +2.38%

  • RBGPF

    59.2400

    59.24

    +100%

  • AZN

    1.3700

    65.63

    +2.09%

  • CMSC

    0.0320

    24.672

    +0.13%

  • CMSD

    0.0150

    24.46

    +0.06%

  • BCE

    0.0900

    26.77

    +0.34%

  • VOD

    0.1323

    8.73

    +1.52%

  • BTI

    0.4000

    37.38

    +1.07%

  • RYCEF

    -0.0100

    6.79

    -0.15%

  • BP

    0.2000

    29.72

    +0.67%

  • JRI

    -0.0200

    13.21

    -0.15%

Asian stocks mostly fall, tracking global slide
Asian stocks mostly fall, tracking global slide / Photo: © AFP

Asian stocks mostly fall, tracking global slide

Asian markets mostly fell Friday, tracking a global slide in stocks fuelled by tame tech earnings and investor jitters less than a week before neck-and-neck US elections.

Text size:

All three major US indices fell Thursday, with the tech-rich Nasdaq Composite Index dropping nearly three percent.

Microsoft and Meta topped earnings estimates, but saw their share prices drop -- more than six percent and four percent, respectively -- after signalling plans to increase AI investments.

Apple reported revenues that narrowly beat analyst expectations, sending shares lower in after-hours trading even as the company enjoyed a boost from iPhone sales.

"Asian markets are bracing for a fragile Friday, with high and climbing bond yields chomping at the heels of risk assets, rising AI costs, and gloomy forward outlooks pumping the brakes on the mega-cap Big Tech rally," said Stephen Innes, managing partner of SPI Asset Management.

"After the S&P and Nasdaq logged their sharpest one-day losses in two months, don't count on Wall Street sending over any positive vibes."

Analysts have been watching the rise in US Treasury bond yields, with expectations the Federal Reserve may back off major interest rate cuts amid US economic data that has generally been solid.

Just days away from the US election on Tuesday, data showed the Fed's preferred inflation measure cooled further in September -- and now sits just above the central bank's long-term target of two percent.

But the figures failed to boost sentiment, despite being a positive sign for future rate cuts.

The Fed is expected to authorise a second cut at the end of its policy meeting next week, following a cut in September.

The cost of living in the United States has been a central campaign issue in the coin-toss race for the White House between Vice President Kamala Harris and former president Donald Trump.

"Markets have already priced in some risks of a second Trump presidency as they await the US presidential election," Lloyd Chan, an analyst at MUFG Global Markets Research, said in a note.

"A victory for Trump would likely hurt the outlook for Asian economies and FX via lower trade and investment, as well as the Fed potentially slowing the pace of rate cuts due to the inflationary consequences of Trump's proposed economic policies (tariffs + wider fiscal deficits)."

Investors are also awaiting fresh data on jobs, another key issue for American voters.

US nonfarm payroll figures to be released later Friday are expected to show 100,000 jobs added last month, Bloomberg reported.

In Asia trade, Tokyo stocks were down more than two percent.

Hong Kong and Shanghai were both up following healthy gains by mainland Chinese markets Thursday after a forecast-beating manufacturing report.

Taiwan stocks were down more than a percent as markets reopened after one of the biggest typhoons to hit the island in decades killed at least two people, caused flooding and landslides, and shuttered schools and offices.

Sydney, Wellington, Singapore, Jakarta, Manila and Kuala Lumpur were all down, while Seoul was flat.

Oil prices continued to rise -- WTI was above $70 per barrel -- following reports that Iran was planning a major retaliatory strike on Israel.

- Key figures around 0300 GMT -

Tokyo - Nikkei 225: DOWN 2.3 percent at 38,196.53

Hong Kong - Hang Seng Index: UP 0.8 percent at 20,487.34

Shanghai - Composite: UP 0.7 percent at 3,301.91

Euro/dollar: DOWN at $1.0878 from $1.0883 on Thursday

Pound/dollar: DOWN at $1.2892 from $1.2896

Dollar/yen: UP at 152.27 yen from 152.00 yen

Euro/pound: DOWN at 84.37 from 84.38 pence

Brent North Sea Crude: UP 1.5 percent at $73.87 per barrel

West Texas Intermediate: UP 1.6 percent at $70.37 per barrel

New York - Dow: DOWN 0.9 percent at 41,763.46 (close)

London - FTSE 100: DOWN 0.6 percent at 8,110.10 (close)

S.Palmer--TFWP