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30 Sept 2021

Asian Stocks Remained Steady Amid China-driven Losses

Asian Stocks Remained Steady Amid China-driven Losses

The Index Today

On Thursday, Asian shares is steady following this week's heavy China-driven losses although the dollar sat at a more than one-year high against major peers, supported by long-winded demand and expectations for tighter U.S. monetary policy.

According to the data, the MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.06%, while the Nikkei lost 0.36% a day after Japan's ruling party chose softly spoken consensus-builder Fumio Kishida as its new leader and the country's new prime minister.

There are worries about economic growth in China due to a worsening power chomp combined with fears of a global slowdown, hitting Asian shares on Wednesday.

The Asian equity markets, Hong Kong stocks fell 1% but these were largely balanced by a 1.1% rise in Australia.