Asian shares slip as global rally eases off the accelerator

Asian shares slip as global rally eases off the accelerator


BANGKOK (AP) — Shares were mostly lower Thursday in Asia after another day of wobbly trading on Wall Street as markets eased off the accelerator following their big rally.

Japan's Nikkei 225 shed 0.4% to 22,365.00 and the Hang Seng in Hong Kong also fell 0.4%, to 24,385.84. South Korea's Kospi slipped 0.5% to 2,130.52.

The Shanghai Composite index gained 0.2% to 2,941.64 after the central bank reportedly conducted market operations to inject cash ahead of mid-year settlements.

India's Sensex edged 0.2% higher to 33,567.50 and shares also rose in Taiwan but fell in Southeast Asia.

Sydney's S&P/ASX 200 skidded 1% to 5,934.80 after the government reported that unemployment surpassed 7% and would have been above 9% if the figure included people laid off and not officially looking for work.

Some 228,000 jobs were lost for a total of 835,000 jobs lost in two months' time, the government reported.

“These are devastating unemployment numbers, they reveal the true pain and hurt that Australians are going through as a result of the coronavirus," said the Australian Treasurer Josh Frydenberg.

“These are not just numbers. These are our friends, family members, workmates and neighbors,” he said.

The jobless data just added to the gloom, said Jeffrey Halley of Oanda. Eratic moves by North Korea and antagonisms between China and India in Kashmir have added to the unease.

“Covid-19 fears in Beijing and parts of the United States and geopolitical concerns in Asia continue to weigh on sentiment," he said.

Chinese e-commerce firm’s stock jumped nearly 6% on its debut in Hong Kong on Thursday after the firm raised $3.9 billion in a share sale. is already listed on Nasdaq in New York. It opened at $239 Hong Kong dollars per share on Thursday, up from its...

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