KCNA via Reuters
Asian stock markets largely finished lower or little changed on Wednesday, after disappointing economic data from Japan and ominous threats from North Korea.
Japan’s Nikkei slipped 0.4% after data showed the country’s economy contracted in the first quarter for the first time since late 2015, snapping the longest stretch of economic growth in 28 years. The economy shrank 0.6%, government data said, thanks largely to weak private consumption and business investment.
Banking, metals and energy stocks led the declines, with shares of Mitsubishi UFJ Financial Group dropping 2%.
Markets were also put on edge after North Korea issued two separate threats to cancel the upcoming summit with President Donald Trump. Rising Treasury yields in the U.S. also worried investors. The yield on the benchmark 10-year Treasury note climbed to match its highest levels since 2011 early Tuesday.
In South Korea, the Kospi index inched up 0.1%, helped by gains for tech giant Samsung Electronics . Stocks were lower in Hong Kong , Shanghai and Singapore .
Australian stocks rose slightly, with banking and energy shares leading the way.
New Zealand’s benchmark S&P/NZX 50 index slumped 1.8%, hurt by a 14% tumble for a2 Milk Co. Ltd. , which missed forecasts and guided lower on revenue.