Asian markets were little changed in early trading Thursday, after Wall Street bounced back and Japan reported miserable exports data.
Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK +0.72% inched down slightly, while Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.99% eked up a bit. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +2.01% rose 0.1% while the Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +1.28% slid 0.1%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.80% gained 0.5%, and benchmark indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 +0.88% , Singapore /zigman2/quotes/210597985/delayed SG:STI +0.62% and Malaysia /zigman2/quotes/210598052/delayed MY:FBMKLCI +1.07% rose. Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.42% was about flat.
On Wednesday, Japan reported its April exports plummeted nearly 22% while imports fell 7%, the worst monthly readings in more than a decade. Japan is the world’s third-largest economy, and fell into recession in the first quarter due to coronavirus-related shutdowns.
China, meanwhile, is pushing to jump-start jobs lost to pandemic closures. As many as 30% of China’s urban workers are estimated to have lost their jobs, Fitch Ratings said, and the Associated Press reported the government is being pressured to get the economy going again as the country’s National People’s Congress is set to meet.
U.S. stock index futures slipped Wednesday night, after the S&P 500 closed at a 10-week high earlier in the day. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.36% advanced 369.04 points, or 1.5%, to finish at 24,575.90. The S&P 500 /zigman2/quotes/210599714/realtime SPX +0.45% climbed 48.67 points, or 1.7%, to end at 2,971.61, its highest close since March 6, according to Dow Jones Market Data. The Nasdaq Composite /zigman2/quotes/210598365/realtime COMP 0.00% rose 190.67 points, or 2.1%, closing at 9,375.78.
West Texas Intermediate crude inched higher, as did Brent crude , the global benchmark.
The dollar /zigman2/quotes/210561789/realtime/sampled USDJPY +0.0140% rose slightly to 107.63 yen..