Asian Markets Record Sharp Drop In Shanghai And Close Down

Written by Paulo Nogueira

Published on 05/12/2023 at 07:49

Updated on 05/12/2023 at 07:50

Após o fechamento chinês, a Moody’s reafirmou o rating da China em A1, mas alterou a perspectiva de estável para negativa

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Moody’s Maintains China Rating but Changes Outlook to Negative After Chinese Closure.

São Paulo, 05/12/2023 – Asian stock markets had a negative session on Tuesday, with a drop of over 1.5% in Shanghai and over 1% in Tokyo. In Oceania, the Sydney Stock Exchange also recorded a decline after the Reserve Bank of Australia maintained interest rates but did not rule out further increases, depending on the situation in the indicators.

The Shanghai Stock Exchange recorded a drop of 1.67%, closing at 2,972.30 points, at the lowest of the day. The Shenzhen Stock Exchange, which has a smaller scope, fell 1.95%, to 1,930.12 points. Fears about China’s growth influenced the decline, even after recent government measures to support the situation. Almost all sectors closed in the red in Shanghai, with software and hardware stocks among the worst performers. Beijing Kingsoft Office Software fell 2.65%, and iFlytek declined by 3.85%. Additionally, Asian stock markets suffered from uncertainty about the economic outlook in China.

Moody’s Confirms China’s Rating at A1 but Changes Outlook to Negative

After the Chinese closure, Moody’s reaffirmed China’s rating at A1 but changed the outlook from stable to negative. The agency warned about the indebtedness of local and state governments, which, according to it, will require the central government to support them, which could result in a potential worsening of the country’s fiscal situation.

ARTICLE CONTINUES BELOW

Nikkei Index and Tokyo Stock Exchange Decline After Closure

The Nikkei index of the Tokyo Stock Exchange fell by 1.37%, closing the day at 32,775.82 points. Technology sector stocks were under pressure, with Disco Corp. declining 5.6%, Advantes falling 6.0%, and Screen Holdings recording a drop of 5.4%, making these the most pressured stocks on the Nikkei.

Hang Seng Index Falls 1.91% in Hong Kong

In Hong Kong, the Hang Seng index recorded a decline of 1.91%, closing the day at 16,327.86 points. Investors were cautious before the monthly jobs report (payroll) in the United States, especially after speculation about more aggressive interest rate cuts by the Federal Reserve (Fed, the US central bank) receded, according to Gary Ng from Natixis. The technology and finance sectors were under pressure, with Lenovo recording a decline of 10%, Netease falling 5.2%, and Wuxi Biologics having a drop of 8.45% after analysts downgraded their forecasts for the pharmaceutical company’s stock.

Kospi, Seoul Stock Exchange and Taiwan Stock Exchange Record Declines

The Kospi index of the Seoul Stock Exchange closed down 0.82%, at 2,494.28 points, with battery and semiconductor-related stocks among the most pressured. Chip supplier SK Hynix fell 4.0%. On the Taiwan Stock Exchange, the Taiex fell 0.54%, closing the day at 17,328.01 points.

S&P/ASX 200 Index in Sydney Records a Decline of 0.89%

In Oceania, the S&P/ASX 200 index in Sydney recorded a decline of 0.89%, closing the day at 7,061.60 points. The daily loss of the Australian stock market was the largest since October 20. The Reserve Bank of Australia maintained the basic interest rate at 4.35%, but reaffirmed a hawkish stance if necessary, focusing on the data. Commodity stocks were among the worst performers, while the energy sector recorded a decline of 2.1%, amid lower oil prices.

With information from Dow Jones Newswires

Source: Info Money

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Asian Markets Record Sharp Drop In Shanghai And Close Down

Moody’s Maintains China Rating but Changes Outlook to Negative After Chinese Closure.

Moody’s Confirms China’s Rating at A1 but Changes Outlook to Negative

Nikkei Index and Tokyo Stock Exchange Decline After Closure

Hang Seng Index Falls 1.91% in Hong Kong

Kospi, Seoul Stock Exchange and Taiwan Stock Exchange Record Declines

S&P/ASX 200 Index in Sydney Records a Decline of 0.89%

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Asian Markets Record Sharp Drop In Shanghai And Close Down

Moody’s Maintains China Rating but Changes Outlook to Negative After Chinese Closure.

Moody’s Confirms China’s Rating at A1 but Changes Outlook to Negative

Nikkei Index and Tokyo Stock Exchange Decline After Closure

Hang Seng Index Falls 1.91% in Hong Kong

Kospi, Seoul Stock Exchange and Taiwan Stock Exchange Record Declines

S&P/ASX 200 Index in Sydney Records a Decline of 0.89%

The oldest tree in the world, alive since before the birth of Jesus Christ, is cut down in a scientific study and the case changes environmental preservation rules.

Seen from space, an image taken by an astronaut shows an unlikely oasis in the Saudi Arabian desert, protected by a terrain that slows the advance of sand, surrounded by green circles, remnants of an extinct lake and nearly 10,000 years of preserved history.

While in Brazil a 10-story building takes 2 years to complete, in China a company stacks pre-fabricated modules and raises the entire building in just 28 hours and 45 minutes.

An entire island in the Pacific wants to surround itself with a colossal barrier against the ocean to try to escape increasingly violent waves and not be swallowed by the sea in the coming decades.

After ten days orbiting the Moon, science confirms that the astronauts of the Artemis II mission return with altered bodies.

With 7.4 trillion tons of artificial snow pumped in 10 years, an extreme operation could stabilize the West Antarctic ice sheet and prevent a sea level rise of more than 3 meters, but it would require snow cannons, ocean water, and energy on an almost industrial scale at the end of the world.

Peru built a tunnel at an altitude of 4,738 meters cutting through the Andes Mountains, and the road leading to it reaches 4,818 meters, making it the highest paved road in the entire world.

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