Asian Stocks Fall Despite Signs of Optimism in Global Economy | national

By YURI KAGEYAMA Business Writer AP

TOKYO (AP) – Asian stocks fell on Friday, despite recent signs of optimism about the global economy, including recent rallies on Wall Street.

Japan’s benchmark Nikkei 225 edged down 0.9% in morning trading to 28,559.89 as investors mostly took a wait-and-see stance ahead of Sunday’s national parliamentary elections.

The ruling Liberal Democratic Party, which has governed almost continuously for decades, should continue to remain in power. But opposition is also expected to gain traction amid public dissatisfaction with the government’s handling of the coronavirus pandemic and concerns about the economy.

South Korea’s Kospi lost 0.7% to 2,988.09. The Australian S & P / ASX 200 lost 0.7% to 7,381.50. The Hong Kong Hang Seng fell 0.8% to 25,343.14, while the Shanghai Composite fell 0.1% to 3,514.03.

The massive selloff of some tech stocks in after-hours trading has cast a shadow. Apple fell 5.4% in after-hours trading after the company’s fourth-quarter tax revenue fell below Wall Street estimates. fell 4% in after-hours trading after its third-quarter results missed analysts’ forecasts.

“While sentiments may want to profit from bullish moves on Wall Street overnight, market participants will also digest the weakness of the major tech secondary market, which could dampen some optimism,” said Yeap Jun Rong, strategist. market at IG in Singapore.

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