In general, stocks in Asia show a decline of 2%. All by itself, the Hong Kong Hang Seng Index saw a 0.1% increase. Other indices also fell, including the Australian S&P/ASX 200 loss of 0.48% and the declines in the Chinese Shanghai Composite and Shenzhen Composite of 0.25% and 0.82%, respectively. The largest decline was 1.85% on the Nikkei 225 in Japan.
The central regulators of the United States, Great Britain, and the ECB raised interest rates, which was the primary factor in the bidders' pessimistic attitude. The increase this time was 50 basis points. Compared to previous months, when rates rose by 75 points all at once, this is less.
However, there currently need to be indications that monetary policy measures in these nations will be loosened in the near future. Rate increases occurred this week in Hong Kong, Norway, and Switzerland. Investors are worried that a rise in interest rates could result in a slowdown in economic growth and a global economic recession.
Techtronic Industries, Co. Ltd. (-2.4%), Semiconductor Manufacturing International, Corp. (-1.7%), and Cambricon Technologies, Corp. (-3%), among other companies, have seen a decline in share prices. It is because of the reports that the US government has blocklisted 36 Chinese companies from accessing American technologies.
The value of securities has primarily declined for Japanese companies: shares of Fast Retailing Co. Ltd. have lost 4.5% in value, Tokyo Electron, Ltd. has lost 4.4%, Advantest Corp. has lost 3.6%, and Hitachi Zosen Corp. has lost 3.5%.
The company's improved forecast for the current year coincided with a 15.9% increase in the share price of Cybozu, Inc.
The share prices of the Korean KOSPI's component companies decreased: those of Hyundai Motor and Samsung Electronics fell by 0.3% and 0.1%, respectively.
The announcement that the controlling stakeholder, Daewoo Shipbuilding & Marine Engineering, intends to sell its securities to a sizable corporation, Hanwha Group, caused a 0.8% decline in the company's stock price.
BHP Securities, which decreased in value by 0.6%, and Santos, which decreased in value by 0.2%, were notable among the Australian index's constituents.
