Nikkei 225 lost more than 2% while Hang Seng reversed

Most major stock markets in Asia-Pacific ended the trading day on September 29 in the red following Wall Street.

Hong Kong stocks reversed with the region and ended the trading day on September 29 in the green. Photo: Shutterstock

In Japan, the Nikkei 225 closed down 2.12% to 29,544.29 while the Topix index lost 2.09% to 2,038.29.

Mainland China stock markets also closed in the red, with the Shanghai Composite slipping 1.83% to 3,536.29 and the Shenzhen Component down 1.64% to 14,079.02.

Hong Kong’s Hang Seng Index today reversed the region and closed the trading day on September 29 with a gain of 0.67% to 24,663.50 points.

Shares of Chinese real estate group Evergrande listed in Hong Kong today jumped nearly 15% after the company announced it would sell $1.5 billion of shares in Shengjing Bank to a management company. state property. Evergrande’s debts are estimated to have exceeded $300 billion.

In the Korean market, the Kospi index fell 1.22% to 3,060.27 points. Sharing red with Asian markets, Australia’s S&P/ASX 200 index fell 1.08% and ended the trading day with 7,196.70 points. The MSCI Asia-Pacific Index (excluding Japan) fell 0.73% today.

Investors were watching the yield on the 10-year US Treasury note as the index broke through the 1.5% mark on September 27 and continued to inched up to 1.508 percent.

Rising Treasury yields sent tech stocks down on Wall Street last night. Accordingly, the technology-biased Nasdaq Composite Index plummeted 2.83% to 14,546.68 points, making last night the index’s worst day since March 2021.

Following in the footsteps of Wall Street, technology stocks in Asia were also “red floor” today. Particularly, shares of Japan’s Softbank Group technology group fell 1.46%, while Samsung Electronics of South Korea dropped 2.88%.

Shares of Chinese technology companies listed in Hong Kong were also “red”, in which Tencent shares lost 1.02% and Alibaba shares lost 1.72%. The Hang Seng Tech Index fell 0.84% ​​to 6,179.43 points.

On Wall Street, the S&P 500 lost 2.04% last night to close at 4,352.63 points, while the Dow Jones Industrial Average “evaporated” 569.38 points to 34,299.99.

End of session this afternoon, Oil prices traded by Asia fell nearly 1%. Brent crude oil futures fell 0.87% to $78.40/barrel, while US crude oil futures fell 0.93% to $74.59/barrel.

The currency market saw the greenback appreciate. The US Dollar Index against other major currencies rose to 93.804 after hitting the recent mark of 93.6. The Japanese yen inched up and converted to 111.21 JPY “eating” 1 USD, from 111.68 JPY/USD set previously. On the contrary, the Australian dollar fell slightly to 1 AUD for 0.725 USD.