Stocks in Asia-Pacific declined on March 4, as investors continued to monitor Russia’s invasion of Ukraine.
In Hong Kong, the Hang Seng index led losses regionally as it declined 2.5% to close at 21,905.29, with shares of HSBC slipping 3.38%.
Mainland Chinese stocks declined on March 4. The Shanghai composite dropped 0.96% to end its trading day at 3,447.65. The Shenzhen component fell 1.374% to close at 13,020.46.
In Japan, the Nikkei 225 dropped 2.23% to finish its trading day at 25,985.47, with shares of SoftBank Group dropping 4.78%. The Topix index declined 1.96% to 1,844.94.
South Korea’s Kospi fell 1.22% on the day to 2,713.343.
In Australia, the S&P 500/ASX 200 dropped 0.57% to close at 7,110.80.
U.S. stocks on March 4
U.S. stocks declined on March 4 in spite of stronger-than-expected jobs reports as worrisome developments in Ukraine weighed on sentiment.
The Dow Jones Industrial Average fell 239 points or about 0.7%. The S&P also dropped 0.8%, while Nasdaq Composite declined 1.4%. The Dow Jones Industrial Average was on track for its fourth straight losing week, was down more than 500 points at session lows.
More importantly, the decline for stocks followed reports that smoke was visible from a nuclear power plant in Ukraine.
Stocks declined on March 4 as investors shifted away from risk assets. For instance, financial stocks which can benefit from higher interest rates fell, with American Express and JPMorgan Chase falling 2.9%.
Travel stocks were another weak point on March 4, with shares of United Airlines falling 3.5%. Shares of Delta Air Lines and American Airlines fell more than 2%.
Energy stocks jumped along with oil prices. Occidental Petroleum gained more than 4%, while Diamondback Energy added 1.5%.
European stocks also fell on March 4 and finished the week down 7% for their worst stretch since March 2020.
COMMENTS