‘Dive’ in Asian stock markets – Nikkei 225 losses over 2%

Significant losses were recorded in the Asia-Pacific stock exchanges, with China lowering the key one-year lending reference rate for the first time in more than a year and a half. At the same time, Asia is following the fall of the Wall on Friday amid concerns about the impact of the Omicron mutation on the economic recovery, as investors continue to hedge recent moves by central banks around the world in their monetary policy.

In particular, the Chinese Central Bank reduced the one-year lending rate (LPR), due to the slowdown in the economy that has been dragged down by the recession in the real estate sector. The one-year LPR fell to 3.8% from 3.85% while the five-year LPR remained at 4.65%, according to the central bank.

The last time the central bank cut LPR was in April last year, when the economy was hit by a pandemic.

In other macros in China, Chongqing’s foreign trade recorded at 720.49 billion yuan (approximately $ 113.19 billion) in January-November 2021, with an annual increase of 24%, as shown by local customs data. Chongqing’s exports rose to 463.11 billion yuan, up 23.9% over the same period, while its imports rose 24.1% to 257.38 billion yuan.

In this climate, on the mainland China Shanghai Composite is down 0.75% and Shenzen is down 1.365%. The Hang Seng index at Hong Kong slips by 1.44%.

In Japan, the Nikkei 225 index recorded the largest losses in the region – over 2.1% -, while the Topix index lost 2%. In South Korea, Kospi is down 1.71%.

In Australia, the S & P / ASX 200 loses 0.25%.

The broader MSCI Index for Asia-Pacific shares outside Japan traded down 1.51%.