Asian technology stocks plummeted along Wall Street


Asia’s major stock indexes all went down in the morning session of September 24 after Wall Street had a “fiery red” session last night.

Japan’s Nikkei 225 index slumped 1.06% at the beginning of the 24/9 session. Photo: AFP

In Japan, the Nikkei 225 index lost 1.06% at the beginning of the session while the Topix index fell 0.83%. Korean stocks this morning also “red to the floor” when the Kospi index plunged 1.48%, while in Australia, the S & P / ASX 200 index slipped deeper with 1.62%. Overall, the MSCI Asia-Pacific Index (excluding Japan) fell 0.55%.

Shares of major technology firms in Asia – Pacific fell sharply this morning after their US counterpart shares “evaporated” sharply last night. Shares of Softbank Technology Group (Japan) lost 3.78%, while shares of Kakao in South Korea fell 2.74%.

US stocks last night “burned” when all three major indexes slipped, despite the positive information about the development of vaccine against Covid-19. The Dow Jones industrial average “evaporated” 525.05 points, or 1.9%, and closed with 26,763.13 points. The S&P 500 fell 2.4 percent to 3,236.92 points, while the Nasdaq Composite slipped 3 percent to 10,632.99 points.

Johnson & Johnson Pharmaceutical Company on September 23 announced that it started testing Covid-19 phase 3 vaccine. Johnson & Johnson is the fourth pharmaceutical company to conduct the final testing phase according to the chapter. development of Covid-19 resistant vaccine.

US dollar index against the greenback this morning soared to 94,378 points, from 93 normally seen in the week. Japanese Yen weakened and converted 105.31 JPY / USD against 105 JPY / USD set yesterday, while the Australian dollar also slipped to 1 AUD / 0.7067 USD from 1 AUD / 0.712. USD in yesterday session.

Oil prices on Asian markets this morning went down to follow stocks. Futures prices for Brent crude fell 0.81% to $ 41.43 / barrel while the US crude oil futures price slid 1.13% to $ 39.48 / barrel.

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