Asian markets were significantly lower on Thursday’s session due to continued concerns regarding emerging markets.September 7, 2018
Asian markets were significantly lower on Thursday’s session due to continued concerns regarding emerging markets followed by a sell-off in technology stocks overnight on Wall Street.
Over in China, the Shanghai Composite fell by 0.47 percent to close the session in the red at 2,691.59 pressured by the losses in Consumer Non-Cyclicals, Healthcare and Basic Materials sectors. Furthermore, the smaller Shenzhen Composite lost 0.72 percent or 10.85 points to end the session lower at 1,496.95 downgraded by all sectors especially Consumer Non-Cyclicals which fell by 1.56 percent.
Moreover, Hong Kong’s main benchmark Hang Seng dropped by 0.99 percent or 269.03 points to trade at 26,974.82 at the close. The index was pressured by the losses in Consumer Cyclicals and Technology sectors, which lost 3.14 percent and 3.07 percent respectively.
To continue with, in South Korea, the KOSPI index closed the session in the red as it lost around 0.18 percent to end the session at 2,287.61 due to the losses in Technology, Basic Materials and Consumer Non-Cyclicals sectors.
Japanese Stock Market:
Japan’s equities were trading lower on today’s session as Nikkei225 fell by 0.41 percent to end the session lower at 22,487.94 pressured by the losses in all sectors but mainly Technology and Energy which fell by 0.91 percent and 0.90 percent.
In stocks news, Takara Holdings Inc was the top performer in the market as its share surged by 16.14 percent to end up at 1,295 followed by Tokyo Dome Corp that gained 3.93 percent to settle at 978.
On the flip side, Furukawa Co Ltd and Sumco Corp were the worst performers in the market as they fell by 9.48 percent and 5.20 percent respectively.
Major exporters are mostly down on a stronger Yen. Canon, Panasonic and Mitsubishi Electric fell in a range of 0.4 percent and one percent. Meanwhile, Sony added around 0.4 percent.
In the Forex market, the Greenback declined against the Japanese Yen to trade at 111.32 USDJPY at 09:55 GMT.
Australian Stock Market:
The Australian’s main index S&P/ASX200 traded lower by 1.12 to close the session in the red at 6,160.40 due to the losses all sectors, especially the Technology and Healthcare sectors.
Among shares, Telstra Corporation Ltd rose by 3.31 percent to end the session higher at 3.12 followed by Sandfire Resources NL that rose by 2.96 percent.
On the other hand, Sigma Healthcare dropped significantly by 11.57 percent to end in the red at 0.535, while Pilbara Minerals Ltd declined by 9.03 percent to settle down at the end of the session at 0.705.
In the currency market, the Aussie fell against the US Dollar to trade at 0.7189 AUDUSD at 09:55 GMT.