Asian Stocks Start Negative Trading
Wednesday Asian stocks closed down on closed bell.
On the Asian trade closure, Japan Nikkei 225 index fell 0.19%. Australia’s S & P / ASX 200 index lost 0.26%. Meanwhile, Hong Kong’s Hang Seng Index fell 0.03%.
Meanwhile, the US stock market is mixed. The Dow Jones average industrial futures index gained 0.11%. The S & P 500 futures fell 0.02%. And the Nasdaq 100 futures fell 0.09%
The second session of the week on the red color after the International Monetary Fund cut its estimates of global growth at the beginning of the week and warned of the slowdown of economic momentum experienced during the past years, following the data of China’s growth, which showed the slow pace of growth of the second largest economy in the world last year 2018 since 1990 with China’s economy expanding 6.6 percent from 6.8 percent in 2017.
The International Monetary Fund lowered its forecast for the pace of growth of the global economy in the year 2019 to 3.5% and for the next year 2020 to 3.6% compared to the previous forecast in October last year at the growth of 3.6% and 3.8%, noting that “a range of factors that exceed Rising trade tensions could lead to further deterioration in risk sentiment amid negative implications for growth, particularly given high levels of public and private debt. ”
The International Monetary Fund (IMF) said these potential factors included Britain’s exit from the EU “without a deal” and the deepest slowdown in three decades of the Chinese economy. “After two years of strong expansion, the economy is growing,” said IMF Managing Director Christine Lagarde. The world is at a slower pace than expected and risks are increasing, even as the economy continues to move forward. It faces far higher risks. ”
Japan’s Nikkei 225 index fell 0.54%, shedding 111.98 points to reach 20,607.35. The Nikkei 225 index fell 0.58% to close at 1,557.59.
China’s indices fell, with the CSI 300 shedding 0.87% to 27.81 points to 3,157.83. The Shanghai Composite Index was down 0.73%, losing 19.14 points to 2,591.37.
Hong Kong stocks fell 0.94%, losing 225.87 points to 26,940.67. South Korea’s Kospi Index fell 0.69%, losing 14.61 points to 2,110.00.