Asia markets- Stocks fall; BOK raises rates yen weakens
An investor watches a computer screen displaying the Shanghai Composite Index at a stock exchange hall on October 9, 2020 in Fuyang, Anhui Province of China.Asia-Pacific markets were mixed on Wednesday, with some indexes struggling for direction amid concerns over the global economy. Investors are also waiting for inflation data from the U.S. due later this week.The Shanghai Composite in mainland China rose 1.53% to end the session at 3,025.51, and the Shenzhen Component gained 2.464% to close at 10,838.48. Both indexes earlier lost more than 1.5% each.Hong Kong’s Hang Seng index recovered but was 0.56% lower in the final hour of trade, while the Hang Seng Tech index was up 0.11%.In Japan, the Nikkei 225 closed fractionally lower at 26,396.83 and Topix lost 0.12% to 1,869. Japan’s yen was hovering around 146 against the dollar. The S&P/ASX 200 in Australia 0.04% higher at 6,647.50.MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.1% higher. South Korea’s Kospi gained 0.47% to 2,202.47 and the Kosdaq was higher by 0.32% to 671.67.South Korea’s central bank raised interest rates by 50 basis points to 3% on Wednesday, in line with expectations. The Korean won strengthened and last changed hands at 1,424.71 per dollar.
Hong Kong’s Hang Seng index recovered but was 0.56% lower in the final hour of trade, while the Hang Seng Tech index was up 0.11%. In Japan, the Nikkei 225 closed fractionally lower at 26,396.83 and Topix lost 0.12% to 1,869. South Korea’s Kospi gained 0.47% to 2,202.47 and the Kosdaq was higher by 0.32% to 671.67.
