The shares decreased for the second consecutive day with the increasing investor concerns about the health of the global economy amid the system of uninterrupted customs tariffs for President Donald Trump and the fears of the slowdown in the US economy.
Chinese, Japanese and Australian stock markets declined as follows:
- The Japanese Topix Index and the export intended Nikai index fell by 1.11% and 0.64%, respectively.
- The Cosby index in South Korea fell 1.28%.
- The Australian S&P/ASX 200 index decreased by 0.9%.
The American indicators had declined yesterday evening Monday:
- The NASDAC index fell 4%, equivalent to 726.01 points, to close at 17470.21 points, recording its worst performance in two and a half years.
- The largest Standard & Poor’s 500 index lost 2.7% 500, equivalent to 155.21 points, to close at 5614.99 points
- The Dow Jones Industrial Index fell 890.63 points, or 2.08%, to close at 41911.09 points.
These declines were caused by fears of the economic impact of the Trump global trade war.
American superiority is hidden
The British Financial Times quoted the head of multi -asset investment in BNB Pariba, China, and Li as saying that the exceptional superiority of American shares began Toray, expecting to rise European and Chinese indicators.
Chinese and Hong Kong shares sharply decreased in early trading, but they later rose, and the Chinese CI3 index fell 0.6%, while the Hang Singh Index in Hong Kong decreased by 1%, before the Chinese index rose 0.32%and the Hong Mong index stabilizes.
Technology and industry companies led the decreases in Asia, as the manufacturers of Taiwanese TSMC and Foxconn decreased by 2.7% and 2%, respectively.
Samsung Heavy Industries, South Korean, decreased 2.4%, while the Japanese Disco Discuet Manufacturing Manufacturing Company decreased by 0.3%.
The British newspaper quoted the head of the Chinese global markets in UBS, Tommy Fang, as saying: “It was (a session) to reduce tremendous risks in the United States,” adding that the impact on Chinese markets will be less due to the money of local investors who are waiting for purchase when it declines.
“The market will be volatile worldwide this year, with Trump’s news and assistant Elon Musk daily news headlines,” Fang added.
Slight recovery
Futures markets indicated a slight recovery in the United States and Europe, as the contracts that follow the Standard & Poor’s 500 index increased by 0.2%, while the contracts for the Stoxx Europe index increased by 0.1%and the DAX increased by 0.3%.
Other analysts noted that US technology shares have risen strongly over the past year, prompting some investors to make profits.
New York Bank, Wi Khawun Chong, said that the growing gravity of Chinese technology companies in the wake of amazing progress in the field of artificial intelligence by the startup company, Deep Sick, forced investors to reassess the high assessments of American technology companies.
