To say Asia-Pacific equities had a bad day on Thursday might be underselling it. Here’s a round-up of falls by the region’s top stock benchmarks following on from the worst day in eight months for US stocks.
The Shanghai Composite index tumbled 5.2 per cent, pushing below the nadir touched in early 2016 which had capped a stock rout that began the previous year and the sharpest one-day fall since February 2016. The Shenzhen Composite was also down 6.7 per cent while the CSI 300 of large-cap Shanghai and Shenzhen-listed stocks dropped 4.8 per cent.
In Hong Kong, the Hang Seng China Enterprises index was down 4 per cent while the broader Hang Seng index dropped 3.8 per cent.
Elsewhere in the region, the Topix index ended down 3.5 per cent in Tokyo and posted its biggest one-day fall since March while Sydney’s S&P/ASX closed 2.7 per cent lower. Taiwanese and South Korean stocks were also under pressure, with the Kospi off 4.4 per cent in Seoul and Taipei’s FTSE Taiwan 50 index falling 6.4 per cent, recording its worst day in more than a decade.
Those falls came after technology stocks led the way lower in both Europe and the US on Wednesday, with the S&P 500 closing down 3.3 per cent and the Nasdaq falling 4.4 per cent, recording its worst day since 2011.
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