Asian Shares Fall After Wall Street Sell Off

Asian shares have had a mixed day following a sell-off on Wall Street as investors worry about how weak global growth will affect companies’ earnings.

In the US, the S&P 500 fell more than 1% on Monday, marking its worst three-day decline since November 2011.

In Japan, the Nikkei 225 fell to a two-month low after being closed for a public holiday on Monday.

The benchmark fell 2.4% to 14,931.73 as a rise in the value of the yen affected shares in exporters.

The yen rose against the dollar to 107.10 after the US Federal Reserve hinted at delays in raising interest rates.

Chinese stocks were down despite stronger-than-expected September trade figures released on Monday.

On the mainland, the Shanghai Composite Index ended the session down 0.3% at 2,359.47, while the Hang Seng index closed 0.4% lower at 23,047.97, following Wall Street’s losses.

In Australia, shares recovered even though a survey showed business confidence fell in September.

The benchmark S&P/ASX 200 closed up 1% at 5,207.4

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza