BANGKOK (AP) — Asian shares skidded Tuesday following a slump on Wall Street after higher yields in the U.S. bond market cranked up pressure on stocks. The Shanghai Composite index lost 1.7% to 3,007.07 even though the Chinese government reported that the economy grew at a surprisingly fast 5.3% annual rate in the first quarter of the year. In quarterly terms it expanded at a 1.6% pace. The Hang Seng in Hong Kong lost 2.1% to 16,248.97. Tokyo’s Nikkei 225 fell 1.9% to 38,471.20 as the dollar continued to gain against the Japanese yen, hitting fresh 34-year highs. By late afternoon the dollar was trading at 154.41 yen, up from 154.27 yen. The euro slipped to $1.0621 from $1.0626. Elsewhere in Asia, Taiwan’s Taiex led the regional decline, falling 2.7%. Markets in Bangkok were closed for Songkran holidays. In South Korea, the Kospi declined 2.3% to 2,609.63, while Australia’s S&P/ASX 200 fell 1.8% to 7,612.50. |
Sophie, Duchess of Edinburgh, attends her late motherHalf hotelDenmark to liberalize its abortion law to allow the procedure until 18th week of pregnancyUFL at midseason: League took best of USFL and XFL, but has a familiar team at top of standingsTight league title races play out across European soccer. Belgium aims for more epic lastWho is Britney Spears' 'boyfriend' Paul Soliz? Inside the singer's turbulent relationship with exBangladesh wins toss and bowls against Zimbabwe in Twenty20 openerAnchovies draw crush of sea lions to San Francisco piers, the most in 15 yearsMy friend is seeing my husband of 20 years, whom I only separated from weeks agoKenya president postpones reopening of schools as flood