Asian shares mixed in skittish trading after Wall St decline

The Charging Bull sculpture by Arturo Di Modica, in New York's Financial District, is shown in this photo, Wednesday, Feb. 7, 2018. The current bull market is set to turn nine years old in about a month. As of Jan. 26, the date of the last market record, the S&P 500 had more than quadrupled over that time. The market had made big gains over the last year, and many experts felt stocks were overdue for a slump. (AP Photo/Richard Drew)
Specialist Anthony Rinaldi works at his post on the floor of the New York Stock Exchange, Wednesday, Feb. 7, 2018. Stocks are opening modestly higher on Wall Street as the market stabilizes following three days of tumult. (AP Photo/Richard Drew)

SEOUL, South Korea — Asian stock markets were mixed Thursday with some benchmarks erasing early morning gains. Investors remained skittish after this week's financial turmoil and overnight losses on Wall Street.

KEEPING SCORE: Tokyo's Nikkei 225 rose 0.3 percent to 21,700.94 while South Korea's Kospi jumped 0.7 percent to 2,414.26. Hong Kong's Hang Seng index rose 0.6 percent to 30,512.92, while the Shanghai Composite index lost 0.6 percent to 3,290.62. Australia's S&P/ASX 200 was flat at 5,876.30. Stocks in Taiwan were almost unchanged and Southeast Asian markets were mixed.

ANALYST'S VIEW: "Risk sentiment continues to be wobbly in markets, with U.S. equities notching a loss at the close, while Brent prices fell sharply to $65 overnight," Mizuho Bank said in a daily commentary.

U.S. BUDGET BATTLE: Uncertainty overshadowed the fitful market recovery as Senate leaders brokered a long-sought budget agreement Wednesday that would bring the Pentagon and domestic programs an extra $300 billion over the next two years. But both Democratic liberals and GOP tea party forces were fighting the plan, raising questions about its chances just a day before the latest government shutdown deadline.

WALL STREET: Indexes rallied in the morning, bobbed up and down for much of the day, then sank in the last few minutes of trading. Energy companies dropped along with oil prices and technology companies also declined. The Standard & Poor's 500 index lost 0.5 percent to 2,681.66. The Dow edged 0.1 percent lower to 24,893.35. The tech-heavy Nasdaq composite fell 0.9 percent to 7,051.98.

ENERGY: Oil prices have seen extended losses since the U.S. government said last week that oil production jumped. Benchmark U.S. crude lost 21 cents to $61.58 per barrel in electronic trading on the New York Mercantile Exchange. The contract dropped $1.60, or 2.5 percent, to finish at $61.79 a barrel on Wednesday. Brent crude, the international standard for oil prices, dropped 15 cents to $65.36 per barrel in London. It sank $1.35, or 2 percent, to finish at $65.51 a barrel in the previous session.

CURRENCIES: The dollar edged up to 109.38 yen from 109.33 yen. The euro fell to $1.2280 from $1.2392.

Must Read

Hong Kong pro-democracy candidates retain veto in...

Sep 5, 2016

A group of young Hong Kong pro-democracy activists has pulled off a stunning election victory,...

US tycoon's China scholarship project opens doors...

Sep 10, 2016

A new scholarship program intended to rival the prestigious Rhodes Scholarships and build...

China, Russia launch South China Sea naval war...

Sep 12, 2016

China's military says the Chinese and Russian navies are launching eight days of war games in the...

Alibaba fires 4 employees accused of stealing...

Sep 14, 2016

Four employees at Chinese internet giant Alibaba have lost their jobs after being accused of...

Taiwan loses diplomatic ally in move welcomed by...

Dec 21, 2016

Taiwan has condemned the African island nation of Sao Tome and Principe's "abrupt" move to break...

People also read these

China ratifies Paris climate deal ahead of G-20...

Sep 3, 2016

China announced on Saturday that it would formally enter the emissions-cutting agreement reached...

Giant panda is no longer endangered, experts say

Sep 5, 2016

A leading international group has taken the giant panda off its endangered list thanks to decades...

China says it can't end North Korea nuke program...

Sep 12, 2016

China says the United States has inflamed the conflict on the Korean Peninsula and must carry the...

Asian markets lower after Wall Street decline

Sep 15, 2016

Asian stock markets were mostly lower Thursday following Wall Street's decline in light trading...

Taiwan loses diplomatic ally in move welcomed by...

Dec 21, 2016

Taiwan has condemned the African island nation of Sao Tome and Principe's "abrupt" move to break...