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Asia-Pacific stocks fall as economists lower China’s GDP forecast

Singapore — In trading on Tuesday morning, stocks in the Asia-Pacific region fell sharply as various companies lowered China’s GDP forecast.

Goldman Sachs lowered its GDP growth forecast for China from the previous 8.2% to 7.8% on Tuesday.

Nomura was also expecting China’s GDP This year, it will increase by 7.7% from the previous forecast of 8.2%.

Inventories in mainland China are declining Shanghai Composite 0.2% down, Shenzhen component It fell 0.55%.Hong Kong Hang Seng Index It exceeded the region by increasing by 0.68%.

Korean KOSPI It slipped 0.81%. SK Innovation shares surged nearly 2% after the company announced its plans: Ford Motor NS Invest over $ 11 billion in new US facilities to produce electric vehicles and batteries..

in Japan, Nikkei 225 While the Tokyo Stock Price Index fell 0.99%, it fell 0.72%. NS S & P / ASX 200 In Australia it fell 0.28%.

Australia’s retail sales fell 1.7% on a seasonally adjusted basis in August, data from the National Statistics Bureau showed Tuesday. According to Reuters, this was 2.5% lower than market expectations.

MSCI’s widest non-Japanese Asia Pacific stock index fell 0.29%.

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Overnight, the Dow Jones Industrial Average rose 71.37 points to 34,869.37 and the S & P 500 fell 0.28% to 4,443.11. The Nasdaq Composite fell 0.52% to 14,969.97.

Mixed movements on Wall Street came as tTreasury yield temporarily exceeded 1.5% for 10 years Monday, the best since June. It then receded from these levels to 1.4802% at the end. Yield is inversely proportional to price.

Currency and oil

NS USD indexTracking greenbacks against baskets from other companies in the same industry, is 93.491, which is above the recently seen level of 93.4.

NS JPY It traded at 111.11 per dollar after weakening from below 110.6 against yesterday’s greenback. NS Australian dollar After yesterday’s bounce fell below $ 0.726, I changed hands for $ 0.727.

Crude oil prices did not change much in the morning of trading hours in Asia, according to international benchmarks Brent Crude Futures It fell about 0.1% per barrel to $ 79.47. US Crude Oil Futures The deal was almost unchanged at $ 75.46 per barrel.

Asia-Pacific stocks fall as economists lower China’s GDP forecast

Source link Asia-Pacific stocks fall as economists lower China’s GDP forecast

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