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Hong Kong, Shanghai: Stocks open lower

Hong Kong, Shanghai: Stocks open lower”

In Hong Kong, the Hang Seng was also down, 380.99 points, or 1.39%, at 27,063.01.

"Tensions between the USA and North Korea have been affecting markets around the world, and they are now affecting markets in China", said an analyst at Huarong Securities in Beijing.

U.S. President Donald Trump stepped up his campaign of pressure, warning the North Korea regime not to follow through with a missile test near Guam and promising massive response to any strike against America or its allies.

The BSE 30-share barometer dipped 336.46 points, or 1.06 per cent, to 31,194.87 with infrastructure, capital goods, realty, auto, metal and healthcare all in the red.

The lead from Wall Street is weak as stocks moved sharply lower on Thursday as the NASDAQ and S&P 500 fell to their lowest closing levels in a month.

Among the laggards, Tencent Holdings fell 3.9 percent, China Construction Bank dropped 1.7 percent while Ping An Insurance Group lost 2.5 percent.

The BSE Sensex lost 336 points in early trade and the NSE Nifty slipped below the 9,800-mark following global sell-off triggered by tensions between the USA and North Korea.

Markets are now awaiting US consumer price data for July, due later in the session.

Crude oil futures fell Thursday after OPEC admitted its production rose in July despite a supply quota agreement with Russian Federation.

Closer to home, Hong Kong will release Q2 numbers for gross domestic product later today; in the first quarter, GDP was up 0.7 percent on quarter and 4.3 percent on year.

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