Asian Stocks Mostly Lower Following Wall Street Drop

TOKYO (AP) -
Men walk past an electronic board showing Japan's Nikkei average outside a brokerage in Tokyo, Japan January 20, 2016. Japan's benchmark Nikkei share average tumbled to a fresh 14-1/2 month low on Wednesday as global markets were battered by plunging crude prices that slid to nearly $27 a barrel in the U.S. REUTERS/Toru Hanai
Men walk past an electronic board showing Japan’s Nikkei average outside a brokerage in Tokyo, Japan. (Reuters/Toru Hanai)

 

Asian stocks mostly slipped in narrow trading Tuesday following a drop on Wall Street disappointed by U.S. economic data.

Japan’s benchmark Nikkei 225 lost 0.2 percent in morning trading to 17,106.54. South Korea’s Kospi added 0.2 percent to 1,986.23. Hong Kong’s Hang Seng was down 0.1 percent at 20,320.32, while the Shanghai Composite dipped 0.6 percent to 2,939.32.

The Dow Jones industrial average rose 19.66 points, or 0.1 percent, to 17,535.39. The Standard & Poor’s 500 index added 1.11 points to 2,037.05, ending a three-day losing streak. The Nasdaq composite index lost 6.72 points, or 0.1 percent, to 4,766.79. Stocks have flagged over the last few days after a five-week rally.

Japan released consumption data that showed household spending was growing but retail sales were weakening. The fluctuating dollar has also contributed to directionless trading lately.

“There are plenty of opportunities to evaluate the state of the U.S. economy this week, and markets globally will look for cues from … Fed members and non-farm payrolls on Friday,” said Alex Furber, senior client services executive, at CMC Markets in Singapore.

Benchmark U.S. crude fell 13 cents to $39.26 a barrel in New York. It fell 7 cents to $39.39 Monday. Brent crude, used to price international oils, lost 16 cents to $40.71 a barrel in London.

The euro rose to $1.1193 from $1.1170. The dollar edged up to 113.61 yen from 113.52 yen.