The reason for this decline is probably because of growing concern about US interest rates.
Japan’s Nikkei 225 fell 1.9% to 26,578.70, Hong Kong’s Hang Seng fell 2.6% to 20,099.04, and Shanghai’s Shanghai Composite fell 2.3. % down 3,017.10 points.
Taipei markets fell more than 2%, while Seoul, Singapore, Manila and Jakarta were also in the red. The Sydney and Wellington markets were closed for a holiday.
MarketstockAsia dropped points in the context that Mr. Emmanuel Macron was re-elected President of France. Mr. Macron is the first outgoing president to be re-elected since the term of the late Jaques Chirac (2002-2007). Addressing his supporters at the foot of the Eiffel Tower in Paris after the preliminary results of the polls on the results of the second round of elections, President Macron pledged that no one would be left behind in a fifth term. next year. Leaders of several European powers also congratulated President Macron on his victory.
Investors have turned away from riskier assets on fears that measures to hedge against inflation, at their highest level in more than 40 years, will derail the post-COVID-19 economic recovery, and affect the profits of companies.
Officials are also closely monitoring the companies’ business prospects, impacted by inflation, interest rate hikes, supply chain difficulties and the conflict in Ukraine.
In the domestic market, at 10:50 am, the VN-Index fell 17.43 points (1.26%) to 1,361.8 points; HNX-Index dropped 1.21 points (0.34%) to 357.91 points.
Source: Vietnam Insider