Commercial and residential buildings are brightly lit at dawn on Saturday, October 21, 2023, in Seoul, South Korea. Corporate investment.
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Asia-Pacific stocks fell on Thursday after U.S. stocks fell overnight, with the Dow Jones Industrial Average recording its worst performance in more than a month.
In Asia, South Korea narrowly avoided a technical recession, with GDP growing 0.1% quarter-on-quarter in the third quarter after contracting 0.2% in the second quarter. However, it fell short of Reuters’ forecast of 0.5% growth.
South Korea’s economy grew by 1.5% annually, which was also lower than the 2% expected by economists.
Korea’s benchmark Cospi After the release of GDP, the Kosdaq index fell 0.32%, and the small-cap Kosdaq index fell 0.91%.
Japanese Nikkei 225 Index It fell 0.68% in early trading, with the Topix falling 0.82%.
Australian S&P/ASX 200 Index It opened down 0.25% on the day.
Hong Kong’s Hang Seng Index futures were quoted at 20,513 points, opening weaker than the Hang Seng Index’s closing point of 20,760.15 points.
All three major U.S. stock indexes fell overnight, with the Dow Jones and S&P 500 Index U.S. stocks fell for a third consecutive day, dragged down by rising Treasury yields.
The S&P 500 fell 0.92% and the 30-stock Dow Jones Industrial Average fell 0.96%. The Nasdaq fell 1.6%.
—CNBC’s Pia Singh and Brian Evans contributed to this report.
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