Asian markets close day down after Fed signals economic slowdown

Attribution: Pixabay

Hong Kong stock exchange loses 604.93 points

ANKARA (AA) – Major stock markets in Asia posted falls at Thursday’s close in the aftermath a US Federal Reserve report indicating economic activity slowed down this summer.

The report pointed to resurgent coronavirus cases and growing supply chain issues and labor shortages.

Investors were awaiting the outcome of a European Central Bank monetary policy meeting later Thursday.

Japan has stretched COVID-19 emergency measures until the end of September as the number of new cases is slowly falling and straining the healthcare system.

Chinese markets have been frozen by the government’s moves to level up controls over thriving online businesses during the pandemic.

The Asia Dow, which includes blue-chip companies in the region, lost 45.10 points, or 1.11%, to close at 4,000 points.

Tokyo’s Nikkei 225 stock exchange lost 173 points, or 0.57%, to 30,008 while the Hang Seng, the benchmark for blue-chip stocks trading on the Hong Kong stock exchange, lost 604.93 points, or 2.30%, to 25,716.

China’s Shanghai stock exchange gained 17.94 points, or 0.49%, to 3,693 points.​​​​​​​

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