Asian Shares Mixed After Wall Street Suffers Worst Loss Since Election Day

Asian shares started the week mixed after U.S. stocks experienced their steepest losses since Election Day, Elaine Kurtenbach reported for the Associated Press (AP).

U.S. futures showed signs of recovery, with the S&P 500 futures rising 0.3% and the Dow Jones Industrial Average futures edging up 0.1%. I Photo: New York Stock Exchange Facebook

U.S. futures showed signs of recovery, with the S&P 500 futures rising 0.3% and the Dow Jones Industrial Average futures edging up 0.1%.

Speculation mounted over who President-elect Donald Trump might nominate as Treasury secretary. Japan’s Nikkei 225 index fell 1.1% to 38,220.85 as the yen initially strengthened against the U.S. dollar.

This followed comments by Bank of Japan Governor Kazuo Ueda, who indicated the central bank would continue raising interest rates as economic conditions allow.

In South Korea, the Kospi surged 2.2% to 2,469.07 after Samsung Electronics, the country’s largest company, announced a share buyback plan. Samsung's stock jumped 6% on the news.

Chinese markets were mixed. Hong Kong’s Hang Seng Index rose 0.8% to 19,572.34, while the Shanghai Composite Index erased early gains to close 0.2% lower at 3,323.55.

Elsewhere in Asia, Australia’s S&P/ASX 200 edged up 0.2% to 8,300.20. Taiwan’s Taiex lost 0.9%, while Thailand’s SET Index gained 0.8% after the government announced that the country's economy grew more than expected in the last quarter.