Stock markets in the Asia-Pacific region are showing mixed signs, with investors weighing the effects of a new wave of coronavirus hitting China.
“China is experiencing the largest wave of coronavirus since the end of the lockdown in March 2020,” Raymond Yeung and Zhaopeng Xing of ANZ Research said in a note.
“If the lockdown is extended, China’s economic growth will be significantly affected. It is too early to change our forecast for GDP growth (5%) for 2022, but we are wary of the impact of a partial lockdown on economically strong provinces. “, they stressed.
In this climate, Hang Seng’s index Hong Kong falls 5%, with Chinese tech stocks plunging: Tencent loses 8.81%, Alibaba slips 10.52% and Meituan plunges 16.32%. Hang Seng Tech is losing more than 10%.
On the mainland ChinaShanghai Composite fell 2.6% and Shenzen 3%.
Shares of Hon Hai Precision Industry, also known as Foxconn, lost 0.97% as Apple Corp. announced on Monday that it was suspending operations in Shenzhen, China, to comply with local coronary restrictive measures.
In South Korea Kospi loses 0.85%, while in Japan the Nikkei 225 is up 0.58% and the Topix is up 0.71%.
The S & P / ASX 200 index at Australia increased by 1.21% to 7,149.40 points.
The broader MSCI Asia-Pacific Index fell 1.93%.
Source: Capital
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