Japan, South Korea shares renewed by China technology explosion, COVID-19 threats

Major Asian-Pacific stock indexes ended on the board’s low on Friday, often ending a tiring week with a low note. Markets have been shaken for weeks by China’s crackdown on technology and the emergence of delta-virus alternatives with mixed companies and mixed revenues.

Friday Financial Market Performance

In Japan, the Nikki 225 index fell 27283.59, 498.83 or -1.80%. The Hong Kong Hang Seng Index fell 25961.03, 354.29 or -1.35%, while South Korea’s KOSPI index closed at 3202.32, 40.33 or -1.24%.

China’s benchmark index fell 3397.36, 14.37 or -0.42%, while the S&P / ASX 200 index in Australia fell 7392.60, 24.80 or -0.33%.

Nikeki is down for more than 6 months on viral load, revenue levels

Japan’s Nikki stock traded lower on COVID-19 on Friday, with some rebounding disappointing and US stock market futures closed to a low.

On Friday, Nikki’s 1.8% decline was the biggest since June 21 and the lowest since January 6.

The Coca-Cola virus-triggered market crash by Nike in March fell 11.2 percent to 5.24%.Th Direct decline on the last trading day of the month.

In news related to COVID, the Japanese government on Friday proposed extending the state of emergency in Tokyo and some other states to August 31 to speed up the registration of COVID-19 cases.

“The revenues were not that bad, but from a strategic point of view, there doesn’t seem to be much confidence,” said Masashiro Ichikawa, chief marketing strategist at Sumitomo Mitsui DS Property Management.

The market is cautious that Nikeki could break down under 27,000.

South Korea has accumulated the worst month since March 2020 against weak Chinese stocks.

South Korean stocks fell more than 1% on Friday, posting the worst month-on-month slump due to concerns over the Chinese government’s control and the COVID-19 epidemic.

KOSPI decreased by 3,302.32 by 40.33 points or 1.24%, the highest daily decline in more than two months. The index fell by 2.86% this month, its biggest monthly decline since March, and it has increased its winning streak by eight months.

In economic news on Friday, North Korea’s factory output showed a half-semiconductor and car production growth in May.

In news related to Covi, South Korea reported 1,710 new cases near the epidemic this week, even after the country took drastic measures in the metropolitan Seoul area and some neighboring cities.

To view all of today’s economic events, check out our Economic Calendar.

This article was originally published in FX State

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