Asian shares mostly lower on lackluster China, Japan data

Sep 14, 2021, 11:47 PM | Updated: Sep 15, 2021, 9:42 pm
A currency trader walks by screens showing the Korea Composite Stock Price Index (KOSPI), left, and...

A currency trader walks by screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea, Thursday, Sept. 16, 2021. Stocks were mostly lower in Asia on Thursday after Japan and China released data that were weaker than expected. (AP Photo/Lee Jin-man)

(AP Photo/Lee Jin-man)

Stocks were mostly lower in Asia on Thursday after Japan and China released data that were weaker than expected.

Shares fell in Tokyo, Shanghai, Hong Kong and Seoul but rose in Sydney.

Japan reported that its exports rose 26.2% in August from a year earlier, but that was well below forecasts for a rise of about 34.0%, Marcel Thieliant of Capital Economics said in a commentary.

Relative weakness in vehicle exports might reflect shortages of semiconductors and other components that have prompted some manufacturers to cut output, he noted.

China reported its retail sales grew an anemic 2.5% in August, down from 8.5% in July, while factory output slowed to 5.3% from 6.4% the month before.

It was the slowest growth in output since May 2020.

“Yesterday’s China data were a real shock,” RaboResearch Global Economics & Markets said in a report. “This is hardly what one calls a robust consumer recovery,” it said.

Tokyo’s Nikkei 225 index dropped 0.6% to 30,332.64 while the Hang Seng in Hong Kong declined 0.8% to 24,825.58. The Shanghai Composite index gave up 0.2% to 3,649.88 and the Kospi in Seoul lost 0.5% to 3,136.27.

Australia’s S&P/ASX 200 gained 0.7% to 7,468.20. Shares fell in Taiwan but rose in Singapore and Jakarta.

On Wednesday, energy and technology companies helped lift stocks on Wall Street broadly higher, reversing the market’s pullback from a day earlier.

The S&P 500 rose 0.8% to 4,480.70 after another day of choppy trading. It was the biggest daily gain for the benchmark index since late August and it put the S&P 500 on pace to close the week higher.

The Dow Jones Industrial Average gained 0.7% to 34,814.39. The Nasdaq composite added 0.8% to 15,161.53. Small-company stocks did even better, with the Russell 2000 index gaining 1.1%, to 2,234.45.

The yield on the 10-year Treasury was steady at 1.30%. Higher yields benefit banks, which can in turn charge more lucrative interest rates on loans. Citigroup rose 2.4% and Capital One Financial gained 2.9%.

Oil prices rose 3.1% and natural gas prices rose 3.8% as the oil and gas industry continues to sort through the damage caused by hurricane season in the Gulf. Disruptions have been more pronounced than originally expected, and there’s been some oil spills from some refineries.

ExxonMobil gained 3.4%, while Occidental Petroleum climbed 6.1% and Marathon Oil finished 7.7% higher.

By midday Thursday, benchmark U.S. crude oil was up 20 cents more, at $72.81 per barrel. Brent crude, the standard for international pricing, gained 21 cents to $75.67 per barrel.

Casino stocks slumped following reports of a possible crackdown on the industry by Chinese officials in Macau, the former Portuguese colony and gambling center. Wynn Resorts fell 6.3% for the biggest drop in the S&P 500, while MGM Resorts fell 2.5% and Las Vegas Sands slid 1.7%.

Wall Street will get get more information on jobs and consumer spending on Thursday when the Labor Department releases its weekly report on unemployment benefits and the Commerce Department releases retail sales data for August.

In currency trading, the dollar slipped to 109.26 Japanese yen from 109.38 yen late Wednesday. The euro rose to $1.1821 from $1.1817.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

AP

FILE - This undated photo provided by the U.S. Fish and Wildlife Service shows a humpback chub in t...
Associated Press

US formally removes Colorado River fish’s endangered status

DENVER (AP) — The humpback chub, a rare fish found only in the Colorado River basin, has been brought back from the brink of extinction after decades of protection, though work must continue to ensure its survival, federal authorities said Monday in reclassifying the species from endangered to threatened status. The fish, which gets its […]
13 hours ago
Associated Press

Closing prices for crude oil, gold and other commodities

Benchmark U.S. crude oil for November delivery rose 16 cents to $82.44 a barrel Monday. Brent crude oil for December delivery fell 53 cents to $84.33 a barrel. Wholesale gasoline for November delivery was unchanged at $2.49 a gallon. November heating oil fell 2 cents to $2.55 a gallon. November natural gas fell 42 cents […]
13 hours ago
Center-left mayoral candidate Roberto Gualtieri flashes a v-sign at his party's headquarters in Rom...
Associated Press

Center-left wins in Rome, elsewhere in blow to Italy’s right

ROME (AP) — Italy’s center-left forces won big in Rome, Turin and several other mayoral runoffs on Monday, dealing embarrassing defeats to the anti-migrant and far-right parties that are hoping to capture Italy’s premiership in the next national election. Roberto Gualtieri from Italy’s Democratic Party trounced a challenger who had been selected by the Brothers […]
13 hours ago
Associated Press

New Orleans council member faces drunk driving accusation

NEW ORLEANS (AP) — A New Orleans City Council member is facing a drunk driving charge for the third time after an arrest early Monday. News outlets in New Orleans say jail records and a police report show that Jared Brossett, 39, is facing a driving while intoxicated charge after police found him asleep in […]
13 hours ago
This combination of images shows promotional art for the series "Invasion," premiering Friday, Oct....
Associated Press

New this week: ‘Dune,’ ‘Invasion’ and an Elton John album

Here’s a collection curated by The Associated Press’ entertainment journalists of what’s arriving on TV, streaming services and music platforms this week. MOVIES — Denis Villeneuve’s somberly majestic adaptation of Frank Herbert’s 1965 cult sci-fi novel “Dune,” with its grand-scale architecture and thundering sonic blasts, would certainly be best experienced on the big screen. But […]
13 hours ago
Associated Press

Lieberman book details help he received from GOP in 2006

HARTFORD, Conn. (AP) — Former U.S. Sen. Joe Lieberman of Connecticut details in a new book how aid from top Republicans — including strategist Karl Rove — helped him win reelection against a more left-leaning Democrat and a Republican. Lieberman ran as an independent in 2006 after losing the Democratic primary to now-Gov. Ned Lamont, […]
13 hours ago

Sponsored Articles

...
DISC DESERT INSTITUTE FOR SPINE CARE

What you need to know about spine health

With 540 million people suffering from lower back pain, it remains the leading cause of long-term disability. That’s why World Spine Day on Oct. 16 will raise awareness about spinal health with its theme, BACK2BACK. “BACK2BACK will focus on highlighting ways in which people can help their spines by staying mobile, avoiding physical inactivity, not overloading […]
...
PNC Bank

How one organization supports early childhood literacy for the most vulnerable

Nearly two out of every three children in low-income communities don’t own a single children’s book, a fact that ultimately could have profound impacts even before entering kindergarten, according to Arizona nonprofit Southwest Human Development.
...
BARROW NEUROLOGICAL INSTITUTE

More stroke patients eligible for acute treatment, thanks to research

Historically, patients underwent acute stroke treatments according to strict time guidelines. But thanks to recent advancements in stroke research, more patients are becoming candidates for clot-busting drugs and endovascular therapy at specialized centers like Barrow Neurological Institute.
Asian shares mostly lower on lackluster China, Japan data