Thu, December 08, 2022

Stock Markets after Historic Drop

china, Economy, stocks and risk factors, china

On Thursday, shares of Wall Street experienced what can be described as a historic drop due to the fears connected with coronavirus outbreak. Stock markets around the world are struggling to deal with problems.

On Friday, Australia’s S&P/ASX 200 made a dramatic comeback as it recovered from earlier losses. The S&P/ASX 200 index added 4.42% to end its trading day at 5,539.30. Nevertheless, the index remained in bear market territory,

Hopefully, India’s Nifty 50 index added 2.15%. However, in Thailand, the SET composite index was last declining 0.98% after a brief turnaround earlier.

Unfortunately, stocks in Japan also failed to strengthen their positions. For example, the Nikkei 225 dropped 6.08% to close at 17,431.05. Importantly, at some point, the index even fell 10%.

The Topix index fell 4.98% to end its trading day at 1,261.70.

The situation was also quite difficult in South Korea. Kospi index declined 3.43% to close at 1,771.44. Meanwhile, the Kosdaq index dropped 7.01% to end its trading day at 524.

Moreover, Hong Kong’s Hang Seng index fell 1.49%.

It is worth mentioning that mainland Chinese stocks also declined on Friday. The Shanghai Composite dropped 1.23% to about 2,887.43. Meanwhile, the Shenzhen component fell 1% to 10,831.13. Also, the Shenzhen composite dropped 1,076% to around 1,798.98.

In Singapore, the Straits Times Index was 2.24% lower in afternoon trade. Malaysia’s FTSE Bursa Malaysia KLCI Index fell 4.42%.

Moreover, Indonesia’s Jakarta Composite also fell by 2.4%.

Stock markets on Friday

Stocks in South Korea

The coronavirus epidemic continues to affect the stock markets in different parts of the world. On Friday, shares of airlines declined due to ongoing situation. Australia’s Qantas Airways fell 12.64%.

Also, shares of ANA Holdings dropped 7.59%, and shares of Japan Airlines fell 12.51%. Interestingly, shares of Korean Air Lines dropped 5.07%.

Shares of China Southern Airlines fell 2,.92%, and Singapore Airlines’ in Singapore fell 2.86%.

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