The Decline of Asia Market amid Global Tensions
A lot had happened on Monday, November 5, 2018, which reflected negative sentiment to Asian investors and caused the stock markets to plunge.
Asia stock markets are mostly down on Monday, November 5, 2018, a day ahead of the U.S. midterm election and the day that the U.S. resumes Iran oil sanction. Today is also the first day of China International Import Expo (CIIE) that seeks to promote the world’s second-largest economy as a major consumer of global goods.
However, as investors remained cautious over global growth prospects and there was no statement from the Chinese President Xi Jinping, who kicked off the CIIE with the opening speech, regarding the possibility of the outcome of the trade talk, cyber attacks, market access etc.
While the investors still had concerns over the resumption of U.S. sanction on Iran oil that left eight countries for a temporary exemption.
Japan‘s Nikkei 225 fell 344.67 points, or 1.55%, to 21,898.99 while the Topix index declined 18.37 points, or 1.11%, to 1,640.39. South Korea’s Kospi was down 19.08 points, or 0.91%, at 2,076.92. SSEC skidded 11.04 points, or 0.41%, to 2,665.43, Hong Kong’s HSI fell 2.08%.
SET fell 11.26 points or 0.67% to 1,670.58 points with ฿38bln. in total value.