Asia markets set for lower open as banking and trade fears take hold
Event on Elizabeth Street (at the intersection of Bourke St Shopping Centre), Melbourne, on a cloudy day.
Charlie Rogers | An | Getty Images
Asia-Pacific markets are poised for a weaker open on Friday, tracking losses on Wall Street as fears over the banking sector and trade tensions intensify.
Shares of regional banks and investment bank Jefferies fell in the United States on Thursday as fears grew about bad loans lurking in the United States.
In Asia, investors will keep an eye on chip heavyweight Taiwan Semiconductor Manufacturing Co., which announced third-quarter results after the Taiwanese market closed on Thursday.
Australia’s S&P/ASX 200 started the day with a 0.28% loss.
of japan Nikkei 225 Futures also pointed to a weaker open; The futures contract in Chicago was at 48,040 and its counterpart in Osaka was at 48,060 compared to the previous close of 48,277.74.
Hong Kong Hang Seng Index futures settled at 25,862, below the HSI’s last close of 25,888.51.
US stock futures fell slightly in the US on Thursday night, following a sell-off in the previous session triggered by concerns about regional banks’ lending practices.
Overnight in the US, the Dow Jones Industrial Average lost 301.07 points, or almost 0.7%, to close at 45,952.24. Earlier in the day, the 30-point index had gained 170 points.
The S&P 500 index finished down 0.6% at 6,629.07 points, giving up a 0.6% gain at the session high. Nasdaq Composite index decreased by 0.5 percent to 22,562.54 points.
— CNBC’s Liz Napolitano, Pia Singh and Alex Harring contributed to this report.
