Asian shares lower on weak US growth

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Sydney All Ordinaries Index

Last Updated at 23 Mar 2018, 05:16 GMT *Chart shows local time ASX All Ords intraday chart
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Japanese shares Image copyright AFP
Image caption Japanese shares led the region's losses on Thursday

Asian markets traded lower on Thursday with investor sentiment dented by a weaker than expected first quarter growth figure in the US.

The US economy grew at an annual rate of 0.2% in the first three months of the year, far lower than forecasts.

The Federal Reserve also kept interest rates at a record low, blaming the slower growth on "transitory factors".

Japan's Nikkei 225 was down 2.7% to 19,520.21, its biggest loss in nearly four months.

The market extended losses after Bank of Japan left its monetary policy unchanged, while lacklustre company earnings also had their impact on the benchmark index.

Shares in Honda fell 6.7% after it announced a fall in profit for the fiscal year to March, as it deals with recalls following exploding air-bags.

Drug maker Takeda shares fell 3% after it warned it would make a loss because of a $2.4bn US legal settlement linked to its Actos diabetes drug.

Rest of Asia

Chinese shares headed lower with Hong Kong's Hang Seng index falling 0.9% to 28,157.71, while the Shanghai Composite was 0.6% lower at 4,449.17.

Shares of AAC Technologies in Hong Kong fell 5.2% after a report in the Wall Street Journal that the Apple Watch had defective component, which was supplied by the Chinese company.

In Australia, the benchmark S&P/ASX 200 ended down 0.8% at 5,790.

South Korea's benchmark Kospi index closed down 0.7% at 2,127.17 - marking its fifth consecutive day of losses.

Government data showed that the country's industrial output fell by a seasonally adjusted 0.4% in March from February - missing market expectations.

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