Asia-Pacific stocks fell on Friday after US and European stocks fell over concerns over the health of the global economy.
In Japan, Topix fell 1.8%, while the CSI-300 index for China’s Shanghai and Shenzhen listed stocks fell 1.1%. South Korea’s Kospi index fell 1.5%. Australia’s S & P / ASX 200 fell 1.4%.
In Asia Resurrection of Covid-19 IG Group market strategist Yeap Jun Rong pointed out Japan’s announcement and said it remained “a major risk in the region.” emergency Thursday prior to the Tokyo Olympics.
“This may indicate that third-quarter GDP growth has probably been revised low and that future recovery will be slow, but potential economic stimulus measures will provide some long-term recovery in the future. We may support it, “he added.
The· Minutes The June Federal Reserve Board meeting, announced Wednesday, cited “increased” uncertainty about the economic outlook. In Asian trading on Friday, yields on 10-year Treasuries rose to 1.331 percent after falling overnight in the US.
In China, economists predict second-quarter gross domestic product growth of 8% next week, but investors are seeing a rapid recovery in the country. Lose momentum..
On Wednesday, the government signaled a reduction in bank reserve requirements designed to support SMEs, but the measures depend on subsequent actions from the People’s Bank of China.
China’s data on Friday showed that consumer price inflation in June remained low at 1.1%. Producer Price Index, Soaring It has risen 8.8% year-on-year, the most since the financial crisis in May due to global commodity rebound.
Jinriu, Senior Economist at HSBC’s Greater China, said:
No Hedges — Markets, Finance, Strong Opinions
Robert Armstrong analyzes the most important market trends and explains how the best spirits of Wall Street respond to them.sign up Here Send newsletter directly to your inbox on weekdays
Asia Pacific equities fall due to concerns over global economic growth
Source link Asia Pacific equities fall due to concerns over global economic growth