Asian markets eased back on Thursday after the previous day’s impressive gains, while eyes were on the release later in the day of China manufacturing data. Also weighing on sentiment in Japan were figures showing the economy recorded its second straight monthly trade deficit in August owing to slipping exports caused by a worldwide slowdown. Tokyo fell 0.45 percent, Hong Kong slipped 0.35 percent, Sydney lost 0.28 percent, Seoul was 0.37 percent lower and Shanghai gave up 0.55 percent.
Global indices climbed on Wednesday, with Tokyo and Sydney hitting four-month highs, after the Japanese central bank said it would extend an asset-purchase scheme as it tries to jumpstart the domestic economy. The move followed similar bond-buying plans by the US Federal Reserve and the European Central Bank, which helped send equities soaring. However, investors stepped back Thursday, with no fresh news to spur buying, as they await the preliminary purchasing managers index (PMI) on Chinese manufacturing activity from HSBC.
The figures will be keenly watched as they will provide an updated outlook on the Chinese economy, which has suffered a slowdown this year owing to tightening demand for its exports in the crucial European and US markets.
In forex markets the dollar — which briefly topped 79.00 yen after the BoJ announcement before easing to 78.36 yen by the end of New York trade — bought 78.35 yen Thursday in Asia.
The euro was at $1.3034 from $1.3049 and at 102.14 yen from 102.24 yen. It had surged to 103.50 yen at one point after the BoJ move Wednesday.
Japan had a trade deficit of 754.1 billion yen ($9.6 billion) in August, smaller than the year-before deficit of 777.5 billion yen but bigger than the deficit of 518.9 billion yen for July.
“The size of the deficit was within expectations, but it increased from the previous month and underlines the difficult economic environment overseas,” said Junko Nishioka, chief economist at RBS Securities Japan, according to Dow Jones Newswires.
On Wall Street Wednesday shares climbed after the National Association of Realtors announced existing home sales across the country leaped 7.8 percent from July to a two-year high, and were up 9.3 percent from a year ago.
The Dow added 0.10 percent, the S&P 500 rose 0.12 percent and the tech-heavy Nasdaq added 0.15 percent.
Oil prices rose, with New York’s main contract, light sweet crude for delivery in October, adding 11 cents to $92.09 a barrel and Brent North Sea crude for November delivery gaining 43 cents to $108.62.
Gold was at $1,771.55 at 0210 GMT compared with $1,772.41 on Tuesday.
