Asia-Pacific stocks set for opening declines following Wall Street tumble

Asia-Pacific stocks set for opening declines following Wall Street tumble


SINGAPORE — Shares in Asia-Pacific looked set for a lower start on Tuesday following big losses overnight on Wall Street that saw the tech-heavy Nasdaq Composite dropping more than 4%.

Futures pointed to a lower open for Japanese stocks. The Nikkei futures contract in Chicago was at 26,060 while its counterpart in Osaka was at 26,010. That compared against the Nikkei 225’s last close at 26,319.34.

Australian stocks were also poised to open lower, with the SPI futures contract at 7,003, against the S&P/ASX 200’s last close at 7,120.70.

Stock picks and investing trends from CNBC Pro:

Investors will be watching for moves of technology shares in Asia-Pacific after the Nasdaq Composite dropped 4.29% to 11,623.25.

Other major indexes on Wall Street also saw substantial losses, with the S&P 500 slipping 3.2% to 3,991.24 — falling below the 4,000 level for the first time in more than a year. The Dow Jones Industrial Average shed 653.67 points, or 1.99%, to 32,245.70.

Currencies

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 103.651 — off levels above 103.8 seen recently.

The Japanese yen traded at 130.33 per dollar, stronger as compared with levels above 130.5 seen against the greenback yesterday. The Australian dollar was at $0.6955, struggling to recover after last week’s drop from above $0.72.



Source

Amazon Kuiper second satellite launch postponed by ULA due to rocket booster issue
World

Amazon Kuiper second satellite launch postponed by ULA due to rocket booster issue

A United Launch Alliance Atlas V rocket is shown on its launch pad carrying Amazon’s Project Kuiper internet network satellites as the vehicle is prepared for launch at the Cape Canaveral Space Force Station in Cape Canaveral, Florida, U.S., April 28, 2025. Steve Nesius | Reuters United Launch Alliance on Monday was forced to delay […]

Read More
Justin Sun’s Tron to go public through reverse merger in deal led by Trump-linked bank
World

Justin Sun’s Tron to go public through reverse merger in deal led by Trump-linked bank

Justin Sun, founder of blockchain platform Tron, poses for a photograph in Hong Kong, May 8, 2020. Calvin Sit | Bloomberg | Getty Images Justin Sun’s crypto company Tron is set to hit the public market through a reverse merger with a manufacturer of custom toys and souvenirs for the world’s biggest theme parks. SRM […]

Read More
Citi recommends these rare stocks that will show profitability gains this year
World

Citi recommends these rare stocks that will show profitability gains this year

Quality companies with strong returns are getting harder to find, according to Citi Research. Return on equity, considered to be a profitability metric calculated by dividing a company’s net income by shareholders’ equity, is “increasingly scarce” among big-name stocks now, Citi U.S. equity strategist Scott Chronert wrote in a recent note to clients. “Stocks where […]

Read More