Asia Markets: Asian markets fall as fears of global slowdown pick up

This post was originally published on this site

Asian markets fell in early trading Wednesday on growing fears of a global economic slowdown.

Stocks on Wall Street slid Tuesday after new data revealed the worst manufacturing numbers since 2009, which when added to recent disappointing data from China, Japan and other leading economies helped stoke fears of a looming recession.

Japan’s Nikkei NIK, -0.55%   slipped 0.6%, and Hong Kong’s Hang Seng Index HSI, -0.29%   fell 0.7% as traders returned from a holiday. South Korea’s Kospi 180721, -1.37%   dropped 1.4%, while benchmark indexes in Taiwan Y9999, -0.13%  , Singapore STI, -1.05%   and Indonesia JAKIDX, -0.40%   all fell. Australia’s S&P/ASX 200 XJO, -1.29%   declined 1.2%. Markets in mainland China remained closed for a holiday, and won’t reopen until next week.

Among individual stocks, Rakuten 4755, -4.76%   and SoftBank 9984, -3.75%   fell in Tokyo trading, along with Honda 7267, -1.53%   and robotics maker Fanuc 6954, -2.17%  . In Hong Kong, AAC 2018, +0.96%   gained while Tencent 700, -1.33%   and CNOOC 883, +0.00%  declined. Samsung 005930, -1.64%   slipped in South Korea, while Beach Energy BPT, -2.76%   and BHP BHP, -1.81%   fell in Australia.