Asia Stocks Trade Slightly Lower as Investors Weigh on Economy after the Reopening

Stocks in Asia opened slightly lower on Thursday, May 7, 2020, as investors awaited the announcement of a private survey of China’s services activity in April and Australia’s trade data for March, which were expected to be released today.

 

Nikkei dipped 0.08%, SSEC fell 0.06%, HSI dropped 0.07%, ASX 200 lost 0.12% and Kospi shed 0.02%. Over the night, Dow Jones dropped 218.45 points or 0.91% to 23,664.64 points. S&P 500 shed 0.70% and Nasdaq rose 0.51%.

Analysts believed that investors continued to be swayed from the expectation of the reopening economy after a long lockdown to contain the spread of coronavirus. Also, the dispute between the U.S. and China over buying American products still weighed on investors sentiment.