Wall Street sold off, Australian stocks fell the most in the region

Wall Street sold off, Australian stocks fell the most in the region

The red color covered the Asia-Pacific stock market on October 29 after Wall Street suffered a massive press session.

Australian stocks fell 1.61% on October 29 trading day. Photo: AFP

The number of new Covid-19 cases in the US and Europe continued to increase, which is believed to be the reason why the Asia-Pacific stock market today sank in red.

Australian stocks fell the most in the region with the S & P / ASX 200 index lost 1.61% and closed to 5,960.30 points. South Korea’s Kospi index fell 0.79% to 2,326.67 points when the “heavyweight” shares of Samsung Electronics fell 1.53% after the company forecasted fourth-quarter profit loss.

On the Hong Kong market, the Hang Seng index slipped 0.49% and ended the day with 24,586.60 points. Standard Chartered shares listed in Hong Kong slipped 3.14% after the bank announced that its profit before tax in the third quarter of 2020 “evaporated” 40%.

“Lower interest rates continue to have an impact on margins, but we’re in a good position to meet our financial targets,” said Bill Winters, CEO of Standard Chartered at the earnings release.

Mainland China stocks today was the only major market to welcome the green color as the Shanghai Composite Index edged up 0.11% to 3,272.73 points while Shenzhen Component rose 0.983% to 13,519.66 points.

Japanese stocks closed in the red. The Nikkei 225 decreased by 0.37% to 23,331.94 points, while the Topix index slipped 0.1% and closed the day at 1,610.93. However, Sony shares soared 6.69% after the company revised its 2020 earnings forecast.

The MSCI Asia-Pacific Index (excluding Japan) fell 0.5% today.

Value Two safe-stamped properties are đUS dollars and gold today, October 29 had conflicting movements. The US dollar index against other major currencies increased to 93,512, from 93.2 at the beginning of the week, while spot gold prices decreased to 1,878.41 USD / ounce, from 1,900 USD / ounce at the beginning of the week. .

Japanese yen today strengthened and converted 104.23 JPY / USD after the Bank of Japan announced to keep monetary policy unchanged. In its recent quarterly report, the Bank of Japan forecasts that the country’s real GDP will decline by 5.5% in fiscal year 2020, higher than the 4.7% forecasted in July.

US stocks last night suffered a massive sell-off session. The Dow Jones has the 4th consecutive “fiery” session and “evaporates” 943.24 points, or 3.4%, to 26,519.95 points. Meanwhile, the S&P 500 slipped 3.5 percent to 3,271.03 points, while the tech-oriented Nasdaq Composite index fell 3.7 percent to 11,004.87.

The US on October 27 recorded a third consecutive day that the number of Covid-19 cases in the day increased to a record. In Europe, Germany and France announced tougher measures due to deteriorating disease situation.

Vishnu Varathan, Head of Economic and Strategic Research at Mizuho Bank said that the inability to control the second Covid-19 outbreak caused Europe, typically Germany and France, to re-apply measures of social distance. This raises concerns that the Covid-19 epidemic in the US and UK may recur and these two countries will also make a move. epidemic room similar toughness.

Oil prices on the Asian market went down this afternoon. Futures Brent crude oil futures slid 0.84% ​​to $ 38.79 / barrel while the US crude futures prices fell 0.78% to $ 37.10 / barrel.

Design by NewsLax