Asian stocks drop, looking to face worst month

30.07.2021 - Davydova Maria
Asian stocks drop, looking to face worst month

Asian shares fell on Friday, with some of the region’s equities facing the largest monthly drop since the height of the coronavirus pandemic lockdowns in March. Meanwhile, the dollar lingered close to one-month lows on expectations of continued Fed stimulus.

MSCI’s broadest index of Asia-Pacific shares outside Japan plummeted 0.84%, driving its losses for the week to over 6.5%. In Japan, Nikkei went down 1.71%, set to face its 11th straight month of losses on the month’s last trading day.

In China, blue chips dipped 0.96%, while Hong Kong’s Hang Seng took a 1.27% loss. Hang Seng Tech’s loss brought its total declines for the week to over 17%. South Korea’s Kospi also inched down 0.94%.

In related news, Nasdaq e-mini futures edged down 1.35% while S&P 500 e-minis slipped 0.82%.

However, the market’s losses were relatively moderate in comparison with the sharp declines earlier in the week that had been fueled by investor concerns over the impact of China’s regulatory actions against the education, property, and tech sectors.

Reassurances from Chinese regulators and official media, as well as statements from the US Federal Reserve that its bond-buying program would be retained for now, have worked in calming investors’ nerves.

 

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.net or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue
×

Help with deposit?