A man wearing a protective face mask talks on his cellphone in front of a screen showing the Nikkei index outside a brokerage in Tokyo, Japan. Picture: REUTERS/ATHIT PERAWONGMETHA
MSCI’s broadest index of Asia-Pacific shares ex-Japan tumbled as much as 2.3% to 515.7, sliding for a seventh straight session and extending losses to 18% so far this year. The benchmark later pared losses to trade down 1.3%. “Softening global growth is the persistent wall of worry for markets as investors look beyond the next 3-6 months. The view on growth momentum seems to be that revenge spending after the pandemic may be affected by higher borrowing costs,” he said.
Hong Kong’s benchmark share index returned from a one-day holiday sharply lower on Tuesday and slumped more than 4% before nearly halving losses. Overnight, US stocks extended Friday’s bruising sell-off as investors rushed to protect themselves against the prospect of a weakening economy. Brent crude fell 1% to $104.75 a barrel and US West Texas Intermediate crude also declined 1.1% to $101.96 a barrel, adding to a 6% slump in the previous session. Both contracts are still up about 35% so far this year.
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Asian stocks slide on recession fears over China’s lockdownsThere was no let-up in Beijing's zero-Covid-19 policy, with Shanghai tightening the rules
Source: BDliveSA - 🏆 12. / 63 Read more »
JSE faces continued Asian market pressure on MondayInvestors remain jittery as they consider the willingness of central banks to aggressively fight inflation at the expense of growth
Source: BDliveSA - 🏆 12. / 63 Read more »
Asian stocks slide on recession fears over China’s lockdownsThere was no let-up in Beijing's zero-Covid-19 policy, with Shanghai tightening the rules
Source: BDliveSA - 🏆 12. / 63 Read more »