Asian markets witnessed a broad decline at mid-day trading as investor sentiment was weighed down by global uncertainties and concerns over regional economic developments. Major indices across the region, including Shanghai, Nikkei, and Hang Seng, recorded significant losses.
Key Highlights:
- Shanghai Composite fell by 1.03%, dropping 35.71 points to 3,434.36, reflecting concerns around domestic economic stability.
- Nikkei 225 in Japan declined by 0.76%, losing 298.64 points to 39,234.68, driven by a pullback in tech stocks.
- Hang Seng Index (HSI) in Hong Kong was the biggest laggard, dropping 2.75% or 561.93 points to 19,865 as investor confidence remained shaky.
- Shenzhen Component slid by 0.23%, down 26.72 points to 11,361.85.
- KOSPI in South Korea fell 1.63%, losing 41.21 points to 2,490.45, as concerns over inflation and global demand dampened sentiment.
Other Notable Movements:
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- ASX 200 in Australia marginally declined by 0.13% to 8,255.6.
- Nifty 50 in India showed resilience with a minor dip of 0.04%, trading at 24,131.4.
- Singapore’s STI dropped by 0.95% to 3,703.76, weighed down by banking and tech sectors.
- SGX-CNBC China Growth Index fell by 2.23%, shedding 30.83 points, amid concerns over China’s economic trajectory.
Positive Outliers:
- New Zealand’s NZX 50 managed to buck the trend, rising by 0.5% to 12,749.36, supported by gains in utilities and consumer stocks.
- Malaysia’s Market saw a modest gain of 0.13%, reaching 1,611.32, as optimism over domestic demand remained intact.
Biggest Declines:
- Taiwan Weighted Index experienced the largest percentage drop, plunging by 2.33% or 547.87 points to 22,981.77. Asian markets are experiencing cautious trading amid mixed earnings reports, persistent inflation worries, and looming concerns over economic growth in major economies.
