Asian stocks were trading lower on Thursday due to weak market sentiment. Technical Analysts blame global slowdown for the recent drop in stock markets.

Morgan Stanley revised the price target for Hynix Semiconductor Inc. The stock was down by 4.5% as the price target was lowered by 34 percent.

Hino Motors was among major losers in Tokyo. The stock was down by 7.5% as Lehman Brothers downgraded the stock.

Bridgestone Corp. stock was up by 59 yen as Goldman Sachs Group Inc. upgraded the stock rating to “Buy”. Crude prices have lowered recently from their peak of $147.27 per barrel. Lower rubber prices will also help the company to register decent growth in coming quarters.

Dow Jones Industrial Average closed marginally higher at 11,532 after registering a gain of 15.96 points. Nasdaq Composite Index was down by 0.66% at 2333. Among major gainers were Smurfit-Stone Container Corporation (up by 30.27%), MGIC Investment Corp. (up by 13.95%) and The Timberland Company (up by 10.75%).

Indian stock markets were closed on Wednesday. Technical Analysts expect Indian Stock Markets to remain range-bound on Thursday.