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- Global Stocks: Asian indices climbed despite declines in U.S. stocks
Global Stocks: Asian indices climbed despite declines in U.S. stocks
U.S. stock indices declined on Tuesday amid mixed earnings reports. Stocks of motorcycle maker Harley-Davidson Inc. fell 14% after its report showed a profit miss.
The Dow Jones Industrial Average slid 13.43 points, or less than 0.1%, to 17,217.11. The S&P 500 declined by 2.89, or 0.1%, to 2,030.77. The Nasdaq Composite Index fell 24.50, or 0.5%, to 4,880.97.
U.S. Department of Housing and Urban Development reported on Tuesday that housing starts rose by seasonally adjusted 6.5% to 1.21 million in September compared to the previous month.
U.S. stocks also continued to be influenced by concerns over global economy after Chinese GDP growth missed the 7% target in the third quarter.
This morning in Asia China Shanghai Composite Index rose 0.39%, or 13.45, to 3.438.78. The Nikkei rose 1.86%, or 339.31, to 18,546.46. Hong Kong market is on holiday.
Asian indices climbed despite declines in U.S. stocks.
Japanese stocks are supported by a weaker yen, which is favorable for exporters.
Meanwhile Japanese Ministry of Finance reported that the country's trade balance came in at ¥-114.5 billion in September, while economists had expected a surplus of ¥84.4 billion. Exports rose by 0.6% vs 3.4% expected. Exports to China fell by 3.5% after a 4.6% decline in August. Imports fell by 11.1%.
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