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The Seoul city skyline early on December 16, 2020. (Photo by Ed JONES / AFP) (Photo by ED JONES/AFP via Getty Images)
Ed Jones | Afp | Getty Images
South Korea stocks declined Thursday, dragged down by shares of SK Hynix which fell after announcing quarterly results, while Australia shares touched over a year low.
Shares of the South Korean chip supplier dropped 3.45% after announcing a 2.18 trillion won ($1.61 billion) net loss for the third quarter, in contrast to a 1.11 trillion won net profit in the same period a year ago.
Investors also parsed data from South Korea that showed the economy grew at a slightly higher-than-expected pace in the third quarter.
Gross domestic product grew 0.6% in the July-September quarter from the prior quarter, according to data released by the Bank of Korea. The South Korean central bank will hold its next policy meeting in late November.
South Korea’s Kospi index slipped 1.74%, while the Kosdaq index shed 2.35%.
In Australia, the S&P/ASX 200 fell 0.92%, hitting its lowest point since Oct. 31, 2022.
Japan’s Nikkei 225 fell 1.84% and the Topix index dropped 1.24%.
Hong Kong’s Hang Seng index dipped 0.26%, while China’s benchmark CSI 300 index dropped 0.31% at the open.
The S&P 500 closed below a key level on Wednesday after disappointing quarterly results from Google-parent Alphabet and a rebound in interest rates.
The benchmark index fell 1.43% to close at 4,186.77, ending the day below the 4,200 level that was being widely watched by chart analysts. It was the first time the S&P 500 closed below this threshold since May.
The Dow Jones Industrial Average fell 105.45 points, while the Nasdaq Composite lost 2.43%.
— CNBC’s Brian Evans and Hakyung Kim contributed to this report.
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