Stock Market

Asia-Pacific stock indices fall sharply during trading

Stock indices of the Asia-Pacific region (APR) fall sharply during trading on Tuesday. In particular, the pressure on the markets is exerted by the fall in the shares of the technology sector.

As reported, the US authorities last week introduced new restrictions on the supply of advanced chips and equipment for the production of semiconductors to China to prevent the development of the Chinese military industry through these products.

In addition, Asian markets are declining following the dynamics of Wall Street

American stock indices fell on Monday for the fourth session in a row. At the same time, the value of the Nasdaq Composite fell to a minimum in more than two years – since June 28, 2020, according to Dow Jones Market Data.

The value of the Japanese Nikkei 225 index decreased by 2.6% by 8:19 Moscow time.

Japan’s current account surplus narrowed to 58.9 billion yen in August from 1.5 trillion yen in the same period a month earlier, according to Japan’s finance ministry. Analysts on average had forecast a surplus of 121.8 billion yen, according to Trading Economics.

Read also:  Nearly 90% of U.S. stocks fall below their offering price in 2021

Meanwhile, Japan’s services sentiment indicator rose 2.9 points in September from a month earlier, to a high since June of 48.4 points, according to Economy Watchers data.

Among the components of the index, Nidec Corp. shares are among the drop leaders. (-9.4%), SMC Corp. (-6.7%) and Yaskawa Electric Corp. (-6.2%).

The Hong Kong Hang Seng fell by 8:25 Moscow time by 2.2%, the Shanghai Shanghai Composite – by 0.2%.

Longfor Group Holdings Ltd. shares fell most significantly in Hong Kong. (-8.2%), Meituan (HK:3690) (-7.2%) and Country Garden Holdings Co. Ltd. (-6.8%).

The South Korean index Kospi by 8:23 Moscow time decreased by 2.1%.

Shares in automaker Hyundai Motor (KS:005380) fell 4.8%.

Quotes of securities of one of the world’s largest manufacturers of chips and electronics Samsung Electronics Co. (KS:005930) is down 1.4%, while its competitor LG Electronics is down 4.3%.

The Australian S&P/ASX 200 fell 0.3%.

Capitalization of the world’s largest mining companies BHP and Rio Tinto (LON:RIO) fell by 0.4% and 0.6%, respectively.

0 0 votes
Article Rating
Notify of
Inline Feedbacks
View all comments
Would love your thoughts, please comment.x