Asian markets continued to slide today, marking the fourth consecutive day of losses. The data on US consumer confidence, which turned out to be negative, contrary to analysts' expectations, and the continuing situation of political uncertainty in Hong Kong kept the lists down.
The MSCI Asia Pacific index slipped 0,1% to 140.20 as of 9:02am in Japan, after hitting a four-month low yesterday. The measure suffered the largest monthly decline in September in more than two years and October does not appear to have started auspiciously. Fears of a Chinese slowdown and the end of the Fed's stimulus policy weighed on the stock markets.
“There is concern in the markets about when US rate hike policy will begin,” said Nader Naeimi, head of dynamic asset allocation at AMP Capital Investors in Sydney. “Concerns about the protests in Hong Kong are also growing. If they continue, some companies may decide to leave the city-state.
Hundreds of protesters gathered at the site as a ceremony commemorating the 65th anniversary of the founding of the People's Republic of China took place. Hong Kong Chief Executive Leung Chun-ying faces an ultimatum from protesters demanding his resignation and free elections in Hong Kong.
Japan's Topix fell 0,2% in the morning, while South Korea's Kospi fell 0,5% after the Asian country's quarterly export data proved disappointing. The New Zealand NZX 50 was down 0,1% and the Australian S&P/ASX 200 was down 0,3%.
Hong Kong markets are closed today and tomorrow for public holidays, and mainland China markets will not operate until October 7th.
