Global Markets Today: Nikkei 225, Kospi trade mixed for second day on Wall Street declines

Global Markets Today: Asian markets fell for second day straight on Thursday, as Wall Street’s continued selloff in major tech firms like Nvidia and Oracle weighed on sentiment for a second consecutive day.

Japan’s Nikkei 225 opened near flat, while the broader Topix advanced 0.58 per cent.

In South Korea, the Kospi slipped 0.28 per cent and the Kosdaq edged down 0.27 per cent. Meanwhile, defense stocks gained, with Hanwha Aerospace up 2.46 per cent and Poongsan climbing 3.28 per cent.

Australia’s S&P/ASX 200 dipped 0.23 per cent in early trading, while Hong Kong’s Hang Seng index futures traded at 26,394, below the previous close of 26,518.65. Hong Kong investors are set to keep a close eye on the listing of Chinese automaker Chery Automobile later today.

US stock market today

U.S. equities declined for the second consecutive session on Wednesday, as investors locked in profits with indexes hovering near record highs. The drop came after Federal Reserve Chair Jerome Powell pointed to potentially overvalued stock prices and ahead of key inflation data due later this week.

The Dow Jones Industrial Average slipped 171.50 points, or 0.37 per cent, to 46,121.28. The S&P 500 fell 18.94 points, or 0.28 per cent, to 6,637.98, while the Nasdaq Composite shed 75.62 points, or 0.33 per cent, to 22,497.86.

After all three major indexes closed at record highs simultaneously for the first time in years earlier this week, Powell remarked on Tuesday that asset prices seemed to be quite elevated.

The Fed’s rate cut last week boosted equities in September—a month usually considered weak for markets—with investors now counting on additional easing measures to sustain the rally.

(With inputs from agencies)

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