SINGAPORE — Shares in Asia-Pacific slipped Thursday morning after heavy losses on Wall Street overnight.
The Nikkei 225 in Japan slipped 2.63% in early trade while the Topix index shed 2.31%. Japan’s exports rose 12.5% year-on-year in April, data from the country’s Ministry of Finance showed Thursday. That was lower than expectations for a 13.8% increase, according to Reuters.
South Korea’s Kospi dropped 1.93%, while the S&P/ASX 200 in Australia slipped 0.78%.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.65% lower.
Australia’s jobs data for April is expected to be released at 9:30 a.m. HK/SIN today.
Major indexes on Wall Street tumbled, with the Dow Jones Industrial Average closing at its lowest since March 2021. The Dow dropped 1,164.52 points, or 3.57%, to 31,490.07.
The S&P 500 slipped 4.04% to 4,923.68, while the tech-heavy Nasdaq Composite fell 4.73% to 11,418.15.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 103.823 — off levels below 103.5 seen earlier in the week.