Stocks across Asia-Pacific markets are lower today amid rising
geo-political tensions in the region.
It follows a sell-off in overnight markets, as global stocks got
the jitters from rising levels of animosity between the US and
- Australian stocks led regional markets lower this
morning: The ASX dipped by 1.5% as
major banks led the falls. The ASX200 has since rallied back
slightly, but is still down more than 1% on the day. The Aussie
dollar is also getting sold off in Asian trade after holding up
relatively well overnight. A short time ago, it was down 0.37%
against the US dollar at 0.7846 and had lost ground against
each of the major currencies.
- South Korean stocks opened 1.2%
down: And declines have continued in
midday trade, with the index falling by as much as 1.74%. That
takes losses for the KOSPI index to around 3% this week, with
South Korean stocks now well off the record highs they reached
in late July. Not surprisingly, the Korean won is also lower,
down a further 0.26% against the US dollar after losing 1.3%
over the previous two days.
- Turning to mainland
China: China’s benchmark Shanghai
composite index opened 0.6% lower, but has faced more selling
and is now down by 1.6%. But the ChiNext index — which tracks
small-cap Chinese stocks and is prone to bouts of volatility —
was actually 0.26% higher in midday trade.
- Hong Kong stocks dipped sharply at the
open: Falls in China have been
almost doubled by Hong Kong’s Hang Seng index, which were down
by 1.2% shortly after the index opened at 11:30am AEST. Huge