The Asia-Pacific stock market was flooded with red on October 30 trading day despite the positive news about Covid-19 vaccine resistance in the US.
|China’s Shanghai Composite Index fell 1.47% on October 30 trading day. Documentary photo: AFP|
The Korean Kospi Index closed down 2.56% today to 2,267.15 points. On the mainland Chinese market, the Shanghai Composite Index dropped 1.47% to 3,224.53 points while the Shenzhen Component slipped 2.094% to 13,236.60 points. In Hong Kong, the Hang Seng Index ended the day with 24,107.42 points, down 1.95%.
Japanese stocks today are also “glowing red” despite the information of industrial production of this country in September recorded growth. The Nikkei 225 still fell 1.52% to close at 22,977.13, while the Topix index fell 1.96% and finished at 1,579.33. TPig preliminary report published today by the Ministry of Economy, Trade and Industry of Japan, sThe country’s industrial production in September increased by 4% MoM.
In Singapore, the Straits Times index fell 1.1% to close at 2,423.84 points. Smartphone technology startup Nanofilm Technologies shares today soared 12 percent from its list price on the Singapore stock exchange. This is also the largest listed deal in the island nation in the past six years, according to Reuters.
The red also dominated the Australian stock market when the S & P / ASX 200 index closed, slipping 0.55% to 5,927.60 points. Notably, the shares of AMP Asset Management Company in this country increased by 19.53% after the company announced it was approved to take over Ares Management Fund.
Overall, the MSCI Asia-Pacific Index (excluding Japan) fell 1.15% today.
Shares of Apple suppliers in Asia today fell after shares of US technology company last night 4% steeper slide. Earlier, the Silicon Valley tech “giant” said the fourth quarter of 2020 profit would be slightly lower than the expectations of Wall Street experts. However, Apple did not give any detailed information about business operations and earnings for the fourth quarter, leaving investors and analysts with no basis to expect sales of iPhone 12, the model. 5G phones are launched this month.
After Apple’s limbo announcement, shares of Taiyo Yuden Electronic Materials and Components Company in Japan fell 1.92% while Murata Manufacturing’s shares fell further to 2.91%, while in South Korea. shares of LG Display also lost 2.77%. Hong Kong-listed AAC Technologies shares 2.74% lower, while Taiwan’s Largan Precision shares slipped 0.33%.
Regarding the development of vaccines against Covid-19, Moderna Biotechnology Company has said that this unit is preparing to launch a very potential Covid-19 vaccine to the world. This announcement of a member listed on the Nasdaq is considered a stimulant drug for US stocks in the context of the recent increase in the number of Covid-19 infections in the US and Europe. In particular, Germany and France announced the re-application of blockade measures across the country.
All three major indexes of US stocks rose again last night. The Dow Jones industrial average last night swam upstream for the first time after 5 days of declining. Specifically, Dow Jone last night closed up 139.16 points to 26,659.11. Meanwhile, the S&P 500 ended three consecutive “fiery” days with a 1.2% increase to 3,310.11 points at the end of the session, while the Nasdaq Composite gained 1.6% to 11,185.59 points.
The US GDP in the third quarter of 2020 is expected to exceed the forecast as the number of first-time applicants for unemployment benefits fell for the second consecutive week and hit its lowest level since March 2020.
The US dollar index against other major currencies edged up today to 93,865, from 93.5 normally seen for the week. Japanese Yen weakened and converted 104.34 JPY / USD, from 104 JPY / USD on the previous trading day, while Australian dollar slipped to 1 AUD / 0.7041 USD.
On the Asian oil market, Brent crude for this afternoon delivery inched up 0.56% and traded 37.86 USD / barrel, while the US crude futures rose 0.47% to 36.34 USD. /bin.