SMIC shares listed in Hong Kong fell more than 3%

Asia-Pacific stocks fell into chaos on the first trading day of December 21 when the Covid-19 epidemic in North Asia was still serious.

Shares of chip maker SMIC listed in Hong Kong lost 3.63% on December 21 trading after the US Department of Commerce blacklisted the business. Photo: Shutterstock

Mainland Chinese stock markets closed higher today, with the Shanghai Composite Index inching 0.76% to 3,420.57 points while the Shenzhen Componen index rose 2.026% to 14,134.85 points.

China today announced to keep its basic lending rate unchanged, as predicted by analysts and traders in a recent Reuters poll. The 1-year and 5-year prime rates of China were at 3.85% and 4.65%, respectively.

The Hong Kong market this afternoon closed in the red with the Hang Seng Index down 0.72% to 26,306.68 points. Shares of China’s largest chip maker SMIC today lost 3.63% after the US Commerce Department added the business to a blacklist that restricted access to certain US technologies.

In Japan, the Nikkei 225 index slipped 0.18% and closed at 26,714.42 points while the Topix index fell 0.23% to 1,789.05 points. Meanwhile, South Korea’s Kospi index closed up 0.23% to 2,778.65 points.

Australian stocks today were red with only S & P / ASX 200 slipping slightly to 6,669.90 points. The red-floor movement in the Australian market came after Australia’s most populous city – Sydney – was isolated due to the application of Covid-19 restrictions.

Overall, the MSCI Asia-Pacific (excluding Japan) slipped 0.32%.

The situation of Covid-19 in countries in North Asia such as Japan and South Korea still evolved seriously and had a negative impact on investor sentiment. According to Yonhap news agency, the number of new Covid-19 infections in Korea hit a new record on December 20. On the same day, the Japanese capital, Tokyo, for the first time recorded new monthly Covid-19 infections to 10,000, according to news agency Kyodo News.

However, the Covid-19 vaccine front has seen positive developments. The US Food and Drug Administration has approved the circulation of vaccines against Covid-19 produced by Moderna Biotechnology Company. This is the second Covid-19 resistant vaccine to be approved in the US, after the Covid-19-resistant vaccine co-produced by the pharmaceutical company Pfizer and BioNTech Biotechnology Company.

After months of deadlock negotiations, mMost recently, the US Congress also reached an agreement on a bailout package worth $ 900 billion to stimulate the economy of the Covid-19 era.

The US dollar index against other major currencies rose slightly to 90,596, from below 90 levels previously noted. Japanese Yen today slipped and converted 103.55 JPY / USD from 103.2 JPY / USD set last week, while the Australian dollar also inched up to 1 AUD / 0.7534 USD, compared to the level 1 AUD changed to less than 0.752 USD in the previous week.

Oil prices on the Asian market this afternoon fell, with Brent oil futures falling 3.23% to $ 50.57 / barrel, while the US crude futures price fell by more than 3% to $ 47.44 / barrel. bin.

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