Asia-Pacific stock markets fall due to concerns about global economic growth
Due to concerns about the health of the global economy, US and European stock markets fell, and Asia Pacific stock markets fell on Friday.
In Japan, the Topix Index fell 1.8%, while the China CSI 300 Index fell 1.1%. South Korea’s Kospi index fell 1.5%. Australia’s S&P/ASX 200 index fell 1.4%.
The fall in Asia is after the S&P 500 Index Closed down 0.9% And yield U.S. Treasuries fell As the market reviewed the economic outlook for the rest of the year, oil prices fell to their lowest level since February.
In Asia, a The recovery of Covid-19 Yeap Jun Rong, IG Group’s market strategist, said that this is still “the main risk in the region,” and he pointed out that Japan’s announcement State of emergency Thursday before the Tokyo Olympics.
“This may indicate that the future recovery will slow down, and GDP growth in the third quarter may be lowered, but the potential economic stimulus plan may provide some support for the long-term recovery in the future,” he added.
This minute The June meeting announced by the US Federal Reserve Board on Wednesday pointed out that uncertainty about the economic outlook was “increased.” In Asian trading on Friday, the 10-year US Treasury bond yield rose slightly to 1.331% after the US fell overnight.
In China, economists predict that the GDP growth rate in the second quarter of next week will reach 8%, but investors are worried that the country’s rapid recovery may be possible. Lose motivation.
On Wednesday, the government hinted at reducing bank deposit reserve ratio requirements to help small and medium-sized enterprises, but this measure depends on the follow-up actions of the People’s Bank of China.
Data released by China on Friday showed that consumer price inflation in June was still at a low level of 1.1%.Producer price index, where Soar In May, global commodities experienced the largest increase since the financial crisis, with a year-on-year increase of 8.8%.
“Compared with inflation risks, Beijing is more worried about growth pressures,” said Liu Jing, a senior economist at HSBC Greater China.
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