Nikkei Leads Asian Stocks Down
By wchung | 04 Apr, 2025

Asian markets lost ground Tuesday as a strong yen pummeled Japanese shares and after Wall Street fell amid pessimism about the U.S. economy.

Japan’s Nikkei 225 stock average led regional declines, down 236.93 points, or 2.6 percent to 8,912.33. Dragging on sentiment was the yen’s advance — which erodes the earnings of Japan’s vital exporters — and disappointment over the central bank’s decision to ease monetary policy by expanding a low-interest low program. Markets had been hoping for stronger action.

Elsewhere, Hong Kong’s Hang Seng index was down 0.7 percent at 20,596.38, South Korea’s Kospi dropped 1.2 percent to 1,738.57, and Australia’s S&P/ASX 200 fell 0.6 percent to 4,427.9.

Benchmarks in mainland China, Singapore, Taiwan and New Zealand also retreated.

Heavy selling hit tech shares, with Sony Corp. losing 3.2 percent and Panasonic Corp. down 1.5 percent in Tokyo. South Korea’s Samsung Electronics Co. fell 1.7 percent.

In New York, the Dow fell 140.92, or 1.4 percent, to close at 10,009.73. More signs of slowing economic growth got investors worried ahead of a key report on jobs later this week. A report Monday showed that personal incomes rose less than expected in July.

The Standard & Poor’s 500 index fell 15.67, or 1.5 percent, to 1,048.92, while the Nasdaq composite index fell 33.66, or 1.6 percent, to 2,119.97.

In currencies, the dollar fell to 84.37 yen from 84.54 yen late Monday. The euro fell to $1.2656 from $1.2661.

Benchmark crude for October delivery was down 60 cents at $74.10 a barrel in electronic trading on the New York Mercantile Exchange. The contract lost 47 cents to settle at $74.70 a barrel on Monday.

TOKYO (AP)