Asia shares fall as Apple’s glossy earnings effect fades

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Asia shares fall as Apple’s glossy earnings effect fades
Asia shares fall as Apple’s glossy earnings effect fades

TOKYO (AP) – Asian markets mostly fell Thursday as the rally from news of Apple’s strong earnings that spurred record highs for the Dow Jones industrial average faded. Myriad worries over China’s rising debt, weaker commodity prices and possible rising tensions between Beijing and Washington overshadowed regional markets.

KEEPING SCORE: Japan’s benchmark Nikkei 225 edged down 0.4 percent to 20,004.00 in morning trading. Australia’s S&P/ASX 200 slipped 0.2 percent to 5,730.20. South Korea’s Kospi sank 1.6 percent to 2,389.04. Hong Kong’s Hang Seng was down 0.1 percent at 27,570.83, while the Shanghai Composite was little changed, falling less than 0.1 percent to 3,283.32.

WALL STREET: The Dow average rose 0.2 percent to a record 22,016.24. The Standard & Poor’s 500 index, a much broader market measure used by most professional investors, added less than 0.1 percent to 2,477.57. The Nasdaq composite was flat at 6,362.65. The Russell 2000 index of smaller-company stocks shed 1.1 percent to 1,412.90.

THE QUOTE: “A moderation in the momentum of gains for U.S. indices could provide little to inspire Asian markets today,” Jingyi Pan, market strategist at IG in Singapore, said in a commentary. “Asian markets had, as a whole, shown strong momentum since the start of the week built on data surprises. Having had an early rally following Apple Inc.’s surge yesterday, the regional IT sector may find limited room for gains despite the US lead.”

ENERGY: Benchmark U.S. crude fell 9 cents to $49.50 a barrel in electronic trading on the New York Mercantile Exchange. It added 43 cents to $49.59 overnight. Brent crude, the international standard, fell 15 cents to $52.21 a barrel in London.

CURRENCIES: The dollar fell to 110.66 yen from 110.69 yen late Wednesday in Asia. The euro fell to $1.1845 from $1.1856.

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Follow Yuri Kageyama on Twitter at https://twitter.com/yurikageyama

Her work can be found at https://www.apnews.com/search/yuri%20kageyama

Trader Peter Tuchman wears a “Dow 22,000” hat as he works on the floor of the New York Stock Exchange, Wednesday, Aug. 2, 2017. The Dow Jones industrial average closed above 22,000 points for the first time, driven by a big gain in Apple on an otherwise mixed day for the market. (AP Photo/Richard Drew)
Trader Peter Tuchman, center, wears a “Dow 22,000” hat as he works on the floor of the New York Stock Exchange, Wednesday, Aug. 2, 2017. A big gain from Apple Wednesday morning sent the Dow Jones industrial average above 22,000 for the first time. Most other industries were trading lower, with health care and household goods companies slipping. (AP Photo/Richard Drew)
Traders Gregory Rowe, left, Tommy Kalikas, center, and specialist Edward Loggie work on the floor of the New York Stock Exchange, Wednesday, Aug. 2, 2017. A big gain from Apple Wednesday morning sent the Dow Jones industrial average above 22,000 for the first time. Most other industries were trading lower, with health care and household goods companies slipping. (AP Photo/Richard Drew)
Specialist Mario Picone wears a “Dow 22,000” hat as he works at his post on the floor of the New York Stock Exchange, Wednesday, Aug. 2, 2017. A big gain from Apple Wednesday morning sent the Dow Jones industrial average above 22,000 for the first time. Most other industries were trading lower, with health care and household goods companies slipping. (AP Photo/Richard Drew)
A board above the floor of the New York Stock Exchange shows the Dow Jones industrial average as it moves above 22,000 at the opening bell, Wednesday, Aug. 2, 2017. A big gain from Apple Wednesday morning sent the Dow Jones industrial average above 22,000 for the first time. Most other industries were trading lower, with health care and household goods companies slipping. (AP Photo/Richard Drew)
Specialist Ronnie Howard works at his post on the floor of the New York Stock Exchange, Wednesday, Aug. 2, 2017. A big gain from Apple Wednesday morning sent the Dow Jones industrial average above 22,000 for the first time. (AP Photo/Richard Drew)
Traders Steve Lovejoy, left, and Andrew Silverman work on the floor of the New York Stock Exchange, Wednesday, Aug. 2, 2017. A big gain from Apple Wednesday morning sent the Dow Jones industrial average above 22,000 for the first time. (AP Photo/Richard Drew)
Traders John Panin, left, and Edward McCarthy work on the floor of the New York Stock Exchange, Wednesday, Aug. 2, 2017. A big gain from Apple Wednesday morning sent the Dow Jones industrial average above 22,000 for the first time. Most other industries were trading lower, with health care and household goods companies slipping. (AP Photo/Richard Drew)
Traders Richard Cohen, left, and Eric Schumacher work on the floor of the New York Stock Exchange, Wednesday, Aug. 2, 2017. A big gain from Apple Wednesday morning sent the Dow Jones industrial average above 22,000 for the first time. (AP Photo/Richard Drew)
Trader Frank O’Connell, left, works on the floor of the New York Stock Exchange, Wednesday, Aug. 2, 2017. A big gain from Apple Wednesday morning sent the Dow Jones industrial average above 22,000 for the first time. (AP Photo/Richard Drew)
Trader Peter Tuchman, center, wears a “Dow 22,000” hat as he works on the floor of the New York Stock Exchange, Wednesday, Aug. 2, 2017. Stocks are mostly lower at midday Wednesday, but a big gain for Apple sent the Dow Jones industrial average above 22,000 for the first time. (AP Photo/Richard Drew)
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