Economic news

Asian stocks retreat amid new concerns after IMF forecast

Asian stock markets tumble on Wednesday after Wall Street’s drop amid tensions escalation between the U.S. and the European Union and a weak forecast for global economic growth.

asian stocks fall 1004

MSCI index of the Asia-Pacific region outside Japan recovered 0.37 percent to 163.44 at 7.00 GMT after a 0.1 percent decline.

Japan’s Nikkei 225 fell by 0.53 percent to 21,687, while Australia’s ASX 200 barely changed, having set an uptrend with 0.03 percent growth to 6,223.50.

South Korea’s Kospi grew by 0.52 percent to 2,221.69, while the Hong Kong Hang Seng weakened by 0.11 percent to 30,095.19. Meanwhile, China’s Shanghai Composite advanced 0.37 percent to 3,249.42.

India’s Sensex went down by 0.23 percent to 38,852.47, while the Singapore’s FTSE Straits Times increased 0.10 percent to 3,329.14.

The U.S. president’s threat may further affect investors’ sentiment, in particular, raise their concerns about trade disputes, causing damage to an already slowing economy.

The market participants’ mood was also undermined by the IMF, which lowered its forecast for global economic growth for this year to 3.3 percent in 2019 - the weakest forecast for the last 10 years.


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