Japan shares lead Asia markets lower

Written By Unknown on Kamis, 16 Oktober 2014 | 16.50

16 October 2014 Last updated at 09:58

Asian shares were lower on Thursday after Wall Street tumbled as disappointing US economic data fuelled growth concerns.

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Data from the US showed retail sales and producer prices both fell in September, dimming expectations of an interest rate hike by the central bank.

The S&P 500 fell as much as 3%, briefly turning negative for the year, before closing down 0.8%.

Japan's shares fell more than 2% to a four-and-a-half-month low.

The Nikkei 225 closed down 2.2% at 14,738.38, while the US dollar was at 106.20 yen.

Among the losers were shares of Toyota, down almost 2% after the automaker issued a recall of 1.75 million vehicles on Wednesday.

Hong Kong shares closed down by 1% to 22,900.94 points.

On the mainland, the Shanghai Composite gave up 17 points at the end of the trading session, to close at 2,356.50 points. That followed data showing that the rate of inflation in September had eased, adding to evidence of a slowing economy.

Bucking the trend were Australian shares with the S&P/ASX 200 ending up 0.2%.

Shares of Woodside Petroleum, Australia's largest independent oil and gas producer, were up 1.7% after its third quarter production results beat forecasts.

In South Korea, shares ended at an eight-month low, with the benchmark Kospi index down 0.4%.

The Bank of Korea cut its interest rate for the second time in three months on Wednesday, as well as downgrading its growth forecasts for the economy for this year.


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