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Stock market today: Asian markets lower after Japanese factory activity and China services weaken

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Asian stock markets are mostly lower after Japanese factory activity and Chinese service industry growth weakened.

A visitor looks at an electronic stock board at Tokyo Stock Exchange Friday, Aug. 18, 2023 in Tokyo, Japan. Asian stock markets were mostly lower Thursday, Aug. 31, after Japanese factory activity and Chinese service industry growth weakened.– Asian stock markets were mostly lower Thursday after Japanese factory activity and Chinese service industry growth weakened.Wall Street's benchmark S&P 500 index rose 0.4% on Wednesday after the U.S.

The Shanghai Composite Index lost 0.6% to 3,119.06 while the Nikkei 225 in Tokyo advanced 1% to 32,669.98. The Hang Seng in Hong Kong declined 0.3% to 18,419.98.India's Sensex opened down less than 0.1% at 65,071.31. New Zealand and Singapore advanced while Bangkok and Jakarta declined. The latest figures suggest Asia's biggest economy is not “definitively growing,” said Stephen Innes of SPI Asset Management in a report. “These figures might not sufficiently reassure the markets."

Technology stocks led gains. Apple rose 1.9% and Palo Alto Networks rose 1.7%. HP lost 6.6% after cutting its profit forecast.from 2.4%. That still is up from 2% during the first quarter.

 

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