Shutterstock photo
Markets

Asia stocks mixed after World Bank cuts global forecast

Shutterstock photo

Shutterstock photo

Investing.com -

Investing.com - Asian stock markets were mixed on Wednesday, as sentiment was dampened after the World Bank cut its global growth forecast for this year.

During late Asian trade, Hong Kong's Hang Seng dipped 0.35%, China's Shanghai Composite eased down 0.02%, Australia's S&P/ASX 200 closed 0.29% lower, while Japan's Nikkei 225 ended up 0.5%.

The World Bank lowered its global growth forecast to 2.8% from an earlier estimate of 3.2%, citing weaker than expected growth in the U.S., Russia and China.

Markets in mainland China and in Hong Kong edged lower following the previous session's strong gains. The Hang Seng pulled back from the highest level since January amid concerns over high valuations.

Meanwhile, in Australia, the ASX/200 Index fell from the previous session's one-week high, while the Australian dollar rose to a four-week high against the greenback.

The Aussie strengthened to 93.89 U.S. cents, the most since May 15, from 93.68 cents in the prior session.

Elsewhere, in Tokyo, the Nikkei bounced off the previous day's one-week low, with momentum subdued following a lackluster session on Wall Street. Profit taking sent U.S. stocks edging lower on Tuesday after investors locked in gains from last week's upbeat U.S. jobs report.

Looking ahead, European stock market futures pointed to a lower open. The Euro Stoxx 50 futures pointed to a loss of 0.1% at the open, France's CAC 40 dipped 0.2%, London's FTSE 100 indicated a decline of 0.2%, while Germany's DAX slumped 0.1%.

Across the Atlantic, U.S. equity markets also pointed to a weaker open. The Dow pointed to a loss of 0.1%, the S&P 500 dipped 0.1%, while the Nasdaq 100 indicated a decline of 0.1%.

Investing.com offers an extensive set of professional tools for the financial markets.

Read more News on Investing.com and download the new Investing.com Stocks & Forex App for Android!

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

ForEx