Stocks in Asia and the Pacific closed mostly lower on Monday (3), after Wall Street ended September with hefty losses amid growing recession fears.
The Hang Seng stock index fell 0.83% in Hong Kong to 17,079.51 points, pressured by bank stocks, while the Taiex slipped 0.92% in Taiwan, to 13,300.48 points.
Mainland China and South Korea markets did not operate on Monday due to holidays.
In Oceania, the Australian stock market fell 0.27% in Sydney, at 6,546.90 points, amid a sell-off in technology stocks.
With the exception of the Asian and Pacific region, the Japanese Nikkei rose 1.07% in Tokyo, to 26,215.79 points, with the help of shares from chipmakers and automakers.
The prevailing bad mood came after the New York stock exchanges ended the last week with drops close to 3%, still amid concerns that inflationary pressures and the accelerated rate increase in the US will end up pushing the world’s largest economy into a recession.
Only the S&P 500 tumbled 9.3% in September, the biggest since March 2020.
Source: CNN Brasil
Joe Jameson, a technology journalist with over 2 years of experience, writes for top online news websites. Specializing in the field of technology, Joe provides insights into the latest advancements in the industry. Currently, he contributes to covering the world stock market.
