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Home / Business / Asian shares fall most as new stock markets debut in Shanghai

Asian shares fall most as new stock markets debut in Shanghai



Asian stocks were mainly lower Monday after Wall Street ended last week lower, as investors continue to look for what may be in store for US interest rates.

Japanese Nikkei 225

NIK, [0.2459005] -0.26%

fell 0.2% in early trading. Australias S & P / ASX 200

XJO, -0.18%

jumped between small gains and losses. South Korea's Kospi

180721, + 0.04%

inched down, but was slightly changed. Hong Kong's Hang Seng

HSI, -0.73%

lost almost 0.8% while the Shanghai Composite Index fell 0.6%

SHCOMP, -0.68%

. Taiwan's Taiex

Y9999, + 0.66%

was 0.5%, while stocks were down in Singapore

STI, -0.59%

and Indonesia

JAKIDX, -0.44%

.

In Shanghai, the STAR market, a Nasdaq board with 25 technology companies, began trading. Stocks increased in early trading, thanks to massive profits in listed shares of private investors. Trading in the new market is expected to be volatile at first. "Basically, there can be trade imbalances between supply and demand, and the market should look at fluctuations in a sensible way," said Liu Ti, vice president of the Shanghai Stock Exchange recently, according to Reuters.

9984, + 2.69%

rose in Tokyo trading while Nintendo

7974, -2.11%

and convenience store chain FamilyMart

8028, -2.95%

declined. In Hong Kong, Sunny Optical

2382, + 0.45%

achieved, while real estate companies such as China Overseas Land & Investment

688, -2.44%

and Wharf Real Estate

1997, [2.459006] slipped 2.40%

. SK Hynix

000660, + 2.21%

increased in South Korea while Samsung

005930, + 0.53%

lined up in front of the quarterly report. In Australia, Beach Energy

BPT, + 4.88%

and Fortescue Metals

"If I had to quantify the stock market risk, there are 90% Fed policies and 10% geopolitical concerns, as investors remain completely captivated by looser policies, the better the risk features," said Stephen Innes, managing partner of Vanguard Markets in a note Monday

US stocks pulled further back from their records on Friday to cover the weakest week for the S & P 500 since May, when emotions diminished after Iran said it took a British oil tanker, the last escalation of tensions between Tehran and the West.

S & P 500

SPX, -0.62%

fell 18.50 points, or 0.6% to 2,976.61. After setting their record high on Monday, the index was generally lower and lost 1.2% for the week. It's just the second week for the index in the last seven. Dow Jones Industrial Average

DJIA, -0.25%, fell 68.77, or 0.3% to 27.154.20, and the Nasdaq composite

-0.74%

lost 60.75 or 0.7% to 8.146.49.

Momentum for US stocks has slowed since the beginning of June, when they began shooting at expectations that the Federal Reserve will cut interest rates for the first time in a decade to ensure that the US economy does not undermine weaknesses abroad. Fed's next meeting is scheduled for the end of this month.

"With markets completely captivated by looser policies, the better the risk features, investors can remain singularly focused on the Federal Reserve, and the European Central Bank policy Decisions and communications that global stock markets continue to have their ups and downs based on the perceived rate of accommodating central bank policy, says Stephen Innes of Vanguard Markets in a comment.

Benchmark US crude oil

CLQ19, + 0.77%

added 37 cents to $ 56.13 per barrel. Burned crude oil

BRNU19, + 1.58%

the international standard, increased 65 cents to $ 63.12 per barrel.

dollar

USDJPY, + 0.27%

rose to 107.99 Japanese yen from 107.60 yen Friday.


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