Hang Seng Index in Hong Kong leads losses as Asian stocks fall

Singapore — Most Asia-Pacific markets plummeted Thursday morning after a huge loss overnight on Wall Street.

Hong Kong Hang Seng Index It led to regional losses, down 2.72% in the morning trading.Chinese tech giant stock Tencent Later 7.55% plunge Reported quarterly profit halved..

Other Chinese tech stocks in Hong Kong also suffered significant losses, Alibaba 6.56% down Meituan I shed 4.07%. The Hang Seng Index fell 3.87%.

Inventories in mainland China have declined Shanghai Composite About 0.6% down Shenzhen component It decreased by 0.914%.

The Nikkei 225 In Japan, it fell 2.6%, but the Tokyo Stock Price Index fell 2.03%. Japan’s exports increased 12.5% ​​year-on-year in April, data from the national Treasury showed Thursday. According to Reuters, this was lower than expected for a 13.8% increase.

Korean Kospi It fell by 1.51%, S & P / ASX 200 It fell 1.45% in Australia.

MSCI’s widest non-Japanese Asia Pacific stock index fell 1.8%.

Mark Conin of AIA said there is now a “branch” in market sentiment.

“Investors are worried that inflation will settle and negatively impact earnings and change stock market ratings. This is clearly very damaging to investors, but on the other hand, investors. Conin, the company’s chief investment officer, told CNBC’s “Squawk Box Asia” Thursday.

“As I saw last night I saw the guidance from Target and the guidance from Walmart. Margins are being squeezed, suggesting that investors soon ran through the hills. “

Wall Street’s main index has fallenThe Dow Jones Industrial Average closed at its lowest since March 2021. The Dow fell 1,164.52 points (3.57%) to 31,490.07.

The S & P 500 fell 4.04% to 4,923.68, and the high-tech Nasdaq Composite index fell 4.73% to 11,418.15.

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According to Australian Bureau of Statistics data, Australia’s seasonally adjusted unemployment rate in April was 3.9%.

“3.9% is the lowest unemployment rate in the monthly survey. The previous unemployment rate was lower than this in August 1974, when the survey was conducted quarterly,” said ABS Labor Statistics Officer. One Bjorn Jarvis said. He said in the release.

Currency and oil

The US dollar indexIs tracking greenbacks against baskets from other companies in the same industry, which was 103.688. This is below the 103.5 level seen at the beginning of the week.

The JPY It traded at 128.73 per dollar, stronger than the level above 129 seen against the greenback yesterday. The Australian dollar It was $ 0.6992 after a recent drop from above $ 0.70.

Oil prices were high on the morning of Asian trading hours on international benchmarks Brent crude oil futures $ 110.51, up 1.28% per barrel. US Crude Oil Futures It rose 0.75% per barrel to $ 110.41.

Hang Seng Index in Hong Kong leads losses as Asian stocks fall

Source link Hang Seng Index in Hong Kong leads losses as Asian stocks fall

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