Asian stock markets continue to decline globally

Asian stock markets continue to decline globally

Image copyright
Getty Images

Asian stock markets fell from the UK on Tuesday. U.S. investors are concerned about the rising number of corona virus cases.

The biggest decline in the region was recorded in Australia, with shares hitting a three-month low.

Investors are also worried that the US economy will lose more financial support.

Stock markets fell in South Korea, Hong Kong and China, while Japan closed the public holiday.

The UK and US stock markets suffered heavy losses on Monday on fears that the new rise in corona virus cases could affect economic prospects.

It wiped out more than $ 50 billion worth of UK stocks and caused similar declines in European and US stock markets.

Negative sentiment, which had been the focus of optimism over China’s continued economic recovery, has spread to Asia.

Australian stocks plunged to a record low in mid-June on pressure from mining and energy stocks.

Leading mining companies BHP Group and Rio Tinto fell two percent.

Multiple tensions

“The biggest issue for local markets is how the fight for super dominance in technology between the US and China unfolds through the lens of the ByteDance / Oracle-Walmart deal,” said Stephen Innes, a Sydney-based market strategist. Basic Financial Institution Axi Corp.

With the first US election debate on the 29th, the risk of the election is increasing, which complicates matters further, ”he added.

In Europe, an additional set affected banking stocks Concerns over money laundering allegations Appeared on leaked files.

HSBC, the center of corruption, saw its share price fall 5.3 percent in London, but disclosures dragged down the entire sector, while other big banks fell similarly.

Of HSBC The stock hit a 25-year low Hong Kong fell 3 percent on Tuesday.

Shares of leaked paper-based Bank Standard Chartered fell 2 percent to an 18-year low in Hong Kong.

READ  In 2020, Tesla deliveries increased by 30 percent to 40 percent
Written By
More from Jake Pearson

Google does not see the setback as Ireland’s tipping point

The response to Google’s decision to withdraw from a landmark office deal...
Read More

Leave a Reply

Your email address will not be published. Required fields are marked *