The Seoul city skyline early on December 16, 2020. (Photo by Ed JONES / AFP) (Photo by ED JONES/AFP via Getty Images)
Ed Jones | Afp | Getty Images
South Korea stocks led declines among Asia-Pacific markets on Thursday, as investors parsed data that showed the economy grew at a slightly higher-than-expected pace in the third quarter.
Gross domestic product grew 0.6% in the July-September quarter from the prior quarter, according to data released by the Bank of Korea. The South Korean central bank will hold its next policy meeting in late November.
South Korea’s Kospi index opened 1.51% lower, while the tech-heavy Kosdaq index shed 2.3%. Japan’s Nikkei 225 opened 1.30% lower.
In Australia, the S&P/ASX 200 fell 0.4%.
Futures for Hong Kong’s Hang Seng index stood at 17,158, pointing to a slight higher open compared to the HSI’s close of 17,085.33.
The S&P 500 closed below a key level on Wednesday after disappointing quarterly results from Google-parent Alphabet and a rebound in interest rates.
The benchmark index fell 1.43% to close at 4,186.77, ending the day below the 4,200 level that was being widely watched by chart analysts. It was the first time the S&P 500 closed below this threshold since May.
The Dow Jones Industrial Average fell 105.45 points, while the Nasdaq Composite lost 2.43%.
— CNBC’s Brian Evans and Hakyung Kim contributed to this report.