SEOUL, South Korea — Asian stock markets extended losses Wednesday following a drop on Wall Street as investors digested weak Chinese trade data.
KEEPING SCORE: Japan's Nikkei 225 slid 1.9 percent to 17,891.58 and South Korea's Kospi dropped 0.5 percent to 2,008.96. Hong Kong's Hang Seng was down 0.8 percent to 22,414.79 and the Shanghai Composite Index in mainland China shed 0.4 percent to 3,280.96. Australia's S&P/ASX 200 fell 0.5 percent to 5,176.50. But stocks in Singapore were higher after preliminary data showed the country narrowly avoided a recession in the third quarter.
CHINA DATA: China's weak trade data released Tuesday weighed on sentiment for a second day while investors waited for the release of Chinese consumer price data that will show whether the Chinese central bank has scope to support growth. China's weak imports for September sparked concerns about demand, dampening prices of commodities. It also drove down currencies of commodity-reliant countries such as Australia.
ANALYST'S TAKE: "Some paring of risk appetite in the overnight markets will set the cautious tone in Asia," said Bernard Aw, a market strategist at IG in Singapore. "Regional indices are likely to come under more pressure, although Asian currencies may be cushioned given a relatively flat U.S. dollar," he said in a commentary.
WALL STREET: U.S. stocks finished lower on Tuesday for the first day in five. The Standard & Poor's 500 fell 0.7 percent to 2,003.69. The Dow Jones industrial average declined 0.3 percent to 17,081.89. The Nasdaq composite dropped 0.9 percent to 4,796.61.
ENERGY: Benchmark U.S. crude added 9 cents to $46.74 per barrel in electronic trading on New York Mercantile Exchange. The contract closed 44 cents lower at $46.66 per barrel on Tuesday. Brent crude, used to price international oils, was up 9 cents to $49.78 a barrel in London.
CURRENCIES: The dollar fell to 119.58 yen from 119.76 yen in the previous trading session. The euro rose to $1.1391 from $1.1386.