Asian shares go down

Asian shares go down

On Thursday, Asian stocks sagged after the US major financial institution utilized a hawkish bent overnight, while dropping metals also weighed on Asian stock markets.

Australia's S&P/ASX 200 went down 0.45%, Hong Kong's Hang Seng Index lacked 0.39% and the Shanghai Composite descended 0.59%.

Due to the Greenery Day holiday Japanese markets were unavailable.

As for Australian resources benchmarks, Rio Tinto sagged 2.29%, BHP Billiton declined 0.67% because base metals lost favor.

The sag in copper prices became evident after a leap in inventories powered worries as for an economic slowdown in China, the world's number one copper consumer.

Overnight, American shares were mixed after the close because revenues in the Oil & Gas, Financials as well as Technology sectors brought stocks up, while losses in the Basic Materials, Telecoms as well as Utilities sectors brought stocks down.

The Dow Jones Industrial Average managed to grow 0.04% at the close in NYSE, while the S&P 500 index headed south 0.13%. As for the NASDAQ Composite index, it went down 0.37%.

 

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