Asian shares fall after Wall Street retreat as oil prices drop
Summarised from 2 outlets · Updated 26 Oct, 03:01 · Archive
Asian stock markets declined on Monday following losses on Wall Street, with oil prices falling more than 1%.
Asian stock markets were mostly lower on Monday after Wall Street's retreat, with oil prices falling more than 1% amid broader market caution. Analysts said investors were bracing for earnings reports from large companies and central bank decisions expected this week that could shake markets.
Tokyo's Nikkei 225 slipped 0.1% to 62,602.86 and Seoul's Kospi dropped 1.1% to 5,494.29. Hong Kong's Hang Seng edged 0.2% higher to 23,137.93, while Shanghai's Composite index lost 0.4% to 3,673.83. Australia's S&P/ASX 200 shed 0.2% to 8,782.30. The price of Brent crude fell 1.3% to $110.23 a barrel, whilst U.S. benchmark crude sank 1.7% to $101.52 a barrel.
On Friday, the S&P 500 fell 0.5%, logging its second-straight weekly loss. The Dow Jones Industrial Average fell 1.2% and the Nasdaq composite slipped 0.2%. Several AI-related companies rallied, with Micron Technology rising 2.5%, Intel gaining 1.7%, Microsoft adding 0.7% and Advanced Micro Devices closing 1.7% higher. Analysts noted that AI stocks have faced waves of selling as investors question whether their high prices are justified, particularly as high interest rates make loans more expensive for companies borrowing to fund AI investments.
How it is being reported
- Shares fall in Asia after a decline on Wall Street, and oil prices fall more than 1%Shares are mostly lower in Asia after a retreat on Wall Street, while oil prices have fallen more than 1%.Clickorlando · 26 Oct, 02:44
- Shares fall in Asia after a decline on Wall Street, and oil prices fall more than 1%Shares are mostly lower in Asia after a retreat on Wall Street, while oil prices have fallen more than 1%.News4Jax · 26 Oct, 02:44
In this story: Tokyo · Seoul · Hong Kong · Shanghai · Australia · Wall Street · Intel · Microsoft
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