Asian stocks slip after S&P 500 posts first monthly decline of 21 | national


By ELAINE KURTENBACH Business Writer AP

Asian markets tumbled Friday after Wall Street’s worst monthly loss since the start of the pandemic.

Tokyo slipped 2% and the Australian benchmark fell 2.3%. The Shanghai and Hong Kong markets were closed for holidays.

The S&P 500 ended September down 4.8%, its first monthly decline since January and the largest since March 2020.

After climbing steadily for much of the year, the stock market has become volatile in recent weeks with the spread of the more contagious delta variant of COVID-19, the surge in long-term bond yields and the news that the Federal Reserve could begin to withdraw support for the economy.

A quarterly survey by the Bank of Japan found that the business climate among Japanese manufacturers has reached its highest level in nearly three years.

The results of the “tankan” survey, released on Friday, revealed sentiment among major manufacturers fell from 14 to 18. This is the highest level since the end of 2018. The reading for non-manufacturers increased only slightly, to 2 from 1.

However, she and various other investigations have found that manufacturers are grappling with shortages of computer chips and other components, amid supply chain and shipping disruptions that could hamper recovery from the pandemic.

Tokyo’s Nikkei 225 lost 590.83 points to 28,861.83, while the S & P / ASX 200 lost 2.3% to 7,165.10. Seoul’s Kospi lost 1.4% to 3,026.87. Shares also fell in Taiwan and Southeast Asia.


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