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Asian stocks slumped excluding Hong Kong

While Asian stock markets followed a sales-weighted course on the last trading day of the week, Hang Seng index diverged positively in Hong Kong.

After the US Federal Reserve (Fed), the European and UK central banks also maintained their “hawk” stance, although they reduced the pace of tightening.

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While the expectations that central banks will continue to increase interest rates on a global scale increased the concerns about the recession, the data that fell below the expectations limited the risk appetite.

On the Asian side, developments regarding the Kovid-19 outbreak in China remain at the center of the agenda. On the other hand, the US administration’s blacklisting of 36 Chinese technology companies, including Chinese chip manufacturer Yangtze Memory Technologies, suppressed the stock markets, while the People’s Bank of China increased the amount of short-term liquidity it provided to the market and gave 41 billion yuan to the banking system with a 7-day reverse repo operation.

On the other hand, according to the data released today, the service sector Purchasing Managers Index (PMI) in Japan pointed to growth with 51.7 in December. Manufacturing industry PMI in the country continued its contraction with 48.8.

With these developments, the Shanghai composite index in China decreased by 0.02 percent to 3,163 points and the Kospi index in South Korea decreased by 0.04 percent to 2,360 points.

 

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In Japan, the Nikkei 225 index lost 1.9 percent and closed at 27,527 points. The dollar/yen parity was stabilized at 137.2, 0.4 percent below the previous closing level.

While the Sensex index in India fell by 0.2 percent to 61,652 points, the Hang Seng index in Hong Kong, which differed positively, increased by 0.7 percent to 19,512 points.

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