Markets in the Asia-Pacific fell as the Bank of Japan modified its yield curve control tolerance range while holding its ultra-low benchmark interest rates steady.
The Nikkei 225 fell 2.46% to 26.568.03 leading losses in the region and the Topix fell 1.54% to 1,905.59. The Japanese yen strengthened by around 3% against the U.S. dollar to 132.7, marking its strongest levels in over three months.
In South Korea, the Kospi fell 0.77% to 2,334.09 and the S&P/ASX 200 in Australia also traded 1.54% lower to 7,024.3.
Hong Kong’s Hang Seng index fell 1.61% in its final hour of trade, with technology and property stocks dragging down the wider index. In mainland China, the Shenzhen Component fell 1.4% and the Shanghai Composite fell 1% as the People’s Bank of China kept its key lending rates steady.
Overnight in the U.S., stocks on Wall Street fell, marking the fourth consecutive day of losses for all three averages as concerns over an upcoming recession trumped optimism for a year-end rally.
Source: CNBC
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