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Asian Stock Market falls on Friday as Wall Street has it worst day since June

Syed Umarullah HussainiWeb Editor

04th Sep, 2020. 10:08 am
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Asian stock market

Asian Stock Market fell on Friday as Wall Street has it the worst day since June in Friday trade also investors’ buoyancy faltered after a spate of record highs.

Shares in Asian Stock Market fell across the region Friday, with Tokyo’s Nikkei 225 shedding 1.1%.

There was little going on regionally to alter the market’s trajectory after the U.S. benchmark S&P 500 gave up 3.5%, its biggest loss in three months.

Whereas the Nasdaq fell 5% as high-flying technology companies took a tumble after months of spectacular gains.

The Nikkei 225 shed 255.04 points to 23,210.49 while the Hang Seng in Hong Kong lost 1.9% to 24,528.82.

Australia’s S&P/ASX 200 gave up 2.6% to 5,952.70 and the Shanghai Composite index slipped 1.2% to 3,344.38.

Wall Street’s unloading of technology shares on Thursday ended with Apple plunging 8%. Amazon lost 4.6% and Facebook gave back 3.8%.

Investors worried the fall might turn into a deeper rout, with a crucial U.S. payrolls report due later on Friday seen as a possible selling trigger if it disappoints.

The euro has steadied after several days of selling and held at $1.1850.

Bonds held gains with the yield on benchmark 10-year U.S. debt at 0.6364%, down from a 2-1/2 month peak of 0.7890% touched in late August.

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