Asian indices suffer a bad start to the week as recession fears grip investors
- Asian Market
- 10 months ago
Asian markets have had a terrible start to the week as a likely recession in the U.S. was signalled by an invert yield curve, along with weak data from Europe.
Mainland China’s indexes began the rout as the Shanghai composite fell by 1.2% while the Shenzhen composite retreating below 1%.
Over in Hong Kong the Hang Seng tumbled by 1.8% as shares of Tencent dropped by more than 2.5%.
The Tokyo listed Nikkei 225 followed suit as it shed over 3% as SoftBank and Fast Retailing shares plunged by 4.9% and 2.5% respectively.
Meanwhile the South Korean Kospi was off the pace by 1.6% and so did the Aussie ASX 200 as it too fell by 1.2%.
Other notable indexes posting losses were the TAIEX in Taipei as it shed 1.2% and the SET Composite in Bangkok also slid by 0.8%.
Source: Smart Trend Team