Asia's stocks under pressure – Won at its lowest level since 2017



The Japanese capital is one of the most important financial centers in Asia.

(Photo: AP)

SeoulThe Asian stock markets followed the negative guidance of the US stock exchanges at the close of the week. The MSCI index for Asian stock markets outside Japan declined 0.4 percent on Friday. The Japanese Stock Exchange does not reopen on May 7, given the celebrations to change the throne. The focus was more on price movements in South Korea. There, the local currency Won fell to its lowest level since the beginning of 2017. It has already devalued around five percent against the US dollar this year.

The stock markets in the Far East barely moved at the close of the week before the release of important US economic data. The MSCI index for Asian equity markets excluding Japan was 0.1 percent firmer. The stock exchanges in Japan and China were closed again due to public holidays. Many investors shied away from announcing the new numbers on the US labor market. They hope to see if the upturn in the US continues. "There will be more than one eye on what the Wage Development Report says," said economist David de Garis of the National Australia Bank.

Stock prices rallied strongly worldwide this year. The S & P 500 in the US alone gained more than 16 percent. However, a further increase will be difficult, say the analysts at Capital Economics. They predict a decline in the index to 2300 points from currently just under 2900 meters by Christmas.

At the same time, economic growth in industrialized countries will cool to one percent next year, up from 2.2 percent in 2018. "Investors are still too optimistic about the prospects for corporate earnings growth. When corporate figures disappoint, we think global stock prices are declining. "The Euro was little changed in Asian trading, holding at $ 1,1176 at the previous day's level.

The most important news every morning in your inbox.

. (tagsToTranslate) Nikkei (t) Topix (t) Asia (t) Stock Exchange Tokyo (t) Stock Exchanges Asia (t) China (t) Hong Kong (t) South Korea (t) Japan (t) Stock Market (t) Stock (t) Economy (t) TSE (t) National Australia Bank (t) Standard & Poor's


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.