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Asian stocks drift on disappointing US data

Asian stocks drift on disappointing US data

Asian stock markets drifted in a narrow range in early trading Wednesday, but their gains were limited on disappointing U.S. economic data.
Japan's benchmark Nikkei 225 stock average rose 6.94 points, or 0.1 percent, to 10,299.57.
South Korea's Kospi fell 0.99 points to 2,032.33. Shares in Australia and New Zealand fell in thin trading, while those in and Malaysia and Singapore rose marginally.
Across Asia, sentiment was sluggish as U.S. consumer confidence unexpectedly worsened in December, hit by worries over the job market, according to a survey Tuesday by the private research group Conference Board.
Investors were also cautious after the Standard & Poor's/Case-Shiller home price index, a broad gauge of U.S. home prices, found house prices in 20 U.S. cities all fell in October.
In New York overnight, the Dow Jones industrial average rose just 20.51 points, or 0.2 percent, to 11,575.54. The technology-focused Nasdaq composite index lost 4.39, or 0.2 percent, to 2,662.88.
In currencies, the dollar fell to 82.28 yen in Tokyo on Wednesday from 82.42 yen in New York late Tuesday. The euro declined to $1.3109 from $1.3117.


Updated : 2021-07-31 00:30 GMT+08:00