Nikkei Touches 2 Year Low As Global Stocks Tumble

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

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.

via BBC

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