Most Asian stock markets are falling on Wednesday, following yesterday Wall Street crashes as concerns about the risk of slowing global growth remain at the forefront.
On the board, the Japanese Nikkei 225 loses 1.2% to 26,386.63 points. The Bank of Japan is holding its two-day monetary policy meeting with a clear message to the markets that it plans to keep its extremely low interest rates unchanged in order to encourage spending and investment. The country’s central bank is simultaneously buying government bonds in order to maintain yields over the 10-year period between -0.25% and + 0.25%.
At the same time, Prime Minister Fumio Kishida announced new measures to help the country’s poor families and small businesses cope with the inflation rally and the weakening domestic currency.
Chinese indices are moving upwards after President Xi Jinping pledged more infrastructure to the country in another step to boost the economy. Universal lockdowns by the Chinese government in millions of cities to control the spread of covid-19 have hurt investor confidence in the prospects of the Chinese economy.
In Hong Kong, the Hang Seng Index gained marginal gains of 0.05%, while in mainland China the Shanghai Composite Gains 1.6%.
Finally, South Korea’s Kospi lost 1.3%, while in Australia the S & P / ASX 200 fell 0.8%. Indicators in Singapore, Taiwan and Indonesia are also losing ground.
Source: Capital
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