Asian markets slide as U.S. futures retreat and Gulf tensions weigh on sentiment
Klaus Vedfelt
Asian markets traded lower on Thursday tracking a decline in US stock futures after major Wall Street companies delivered mixed results. Concerns over AI spending, geopolitical tensions in the Gulf and rising oil prices weighed on investor sentiment.
Crude oil futures rose 1.56% to $98.67, while Brent crude gained 1.91% to $110.90. Gold fell 1.24% to $4,089.74.
Japan’s Nikkei 225 (NKY:IND) fell 2.07% to 63,286, while South Korea’s Kospi Composite Index (KS11) dropped 2.89% to 5,570. Hong Kong’s Hang Seng Index (HSI) declined 2.87% to 22,972, while Shanghai’s Composite Index (SHCOMP) slipped 0.89% to 3,680.
Elsewhere in the region, Taiwan’s TSEC Capitalization Weighted Index (TWII) fell 1.20% to 46,325. Australia’s S&P/ASX 200 (AS51) lost 0.36% to 8,800, India’s Sensex fell 0.80% to 73,123.
U.S. stocks ended higher on Wednesday as technology stocks rebounded after continued worries about AI sustainability. SpaceX's better-than-expected Q3 results fueled the rally as investors awaited important earnings reports.
U.S. stock futures fell on Thursday, with Dow futures down 0.26%, S&P 500 futures losing 0.65% and Nasdaq futures dropping 1.30%.
On the economic calendar, investors will focus on U.S. initial jobless claims for the week ended October 17, due at 8:30 a.m. ET.
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