Shutterstock photo
Markets

Most Asian stocks slide as Cyprus banks reopen; Nikkei down 1.56%

Shutterstock photo

Shutterstock photo

Investing.com - Most Asian bourses are trading lower during Thursday's Asian session after Cypriot banks reopened with intense restrictions on withdrawals.

In Asian trading Thursday, Japan's Nikkei 225 slid 1.56% as USD/JPY traded lower. Japanese banks and automakers were among the decliners.

Earlier today, Japan's Ministry of Economy, Trade and Industry said that retail sales fell to a seasonally adjusted annual rate of -2.3% in February from -1.1% in January. Analysts had expected retail sales to fall at annual rate of to -1.2% last month.

Hong Kong's Hang Seng fell 1.05% while the Shanghai Composite plunged 2.27% after Chinese policymakers unveiled new restrictions on wealth management products sold by Chinese banks. Most of those products invest in government and corporate bonds, but some have more opaque holdings, potentially causing risk to Chinese banks.

Australia's S&P/ASX 200 fell 0.30% after Reserve Bank of Australia said that Australian Private Sector Credit rose to a seasonally adjusted 0.2% last month, matching the January reading. Analysts had expected Australian Private Sector Credit to rise 0.3% last month.

New Zealand's NZSE 50 inched higher by 0.09% after Statistics New Zealand said that New Zealand Building Consents rose to a seasonally adjusted 1.9% in February from -0.4% in January. Analysts expected a February increase of 3%.

South Korea's Kospi fell 0.27% after the Bank of Korea said the country's current account deficit was USD2.71 billion in February up from a revised USD2.33 billion in January. On a seasonally adjusted basis the number fell to USD4.45 billion from USD6.59 billion.

Singapore's Straits Times Index fell 0.03%. S&P 500 futures are off 0.39% ahead of the weekly jobless claims report due out later today. Markets in the U.S. and Australia are closed on Friday.

Investing.com - Investing.com offers an extensive set of professional tools for the Forex, Commodities, Futures and the Stock Market including real-time data streaming, a comprehensive economic calendar, as well as financial news and technical & fundamental analysis by in-house experts.

Read more News on Investing.com or Follow us on Twitter at @ Newsinvesting

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