Economy

Asian markets close midweek with losses after weak data from China

Both Asian and European stock exchanges post negative figures

Gokhan Ergocun   | 15.09.2021
Asian markets close midweek with losses after weak data from China

ISTANBUL

Major stock markets in Asia closed with losses on Wednesday following negative data from China, and European indices were also in negative territory.

The Asia Dow, which includes blue-chip companies in the region, lost 37.5 points, or 0.93%, to close at nearly 3,984 points.

Tokyo's Nikkei 225 stock exchange also fell 158.4 points, or 0.52%, to 30,511.

The Hang Seng, the benchmark for blue-chip stocks trading on the Hong Kong stock exchange, posted a steep decline of 469 points, or 1.84%, to 25,033.

China's Shanghai stock exchange and Singapore indices lost 6.38 points / 0.17% and 21.07 points / 0.68% to 3,656 points and 3,059 points, respectively.

Meanwhile, the Indian Sensex benchmark index climbed 0.88% or 512.4 points to nearly 58,760 points.

On Wednesday, declines came after Chinese data – retail sales and construction investment figures – came in below expectations.

China's stringent virus controls and slowing growth figures were seen as negative signs for both the country's and the global recovery.

Also, US Securities and Exchange Commission (SEC) Chairman Gary Gensler on Tuesday warned that Chinese firms might be kicked off US stock exchanges in 2024 unless they comply with regulations.

In Europe, most of major indices posted declines during the third transaction day of the week.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, dropped by 0.61 points or 0.13% to 467.04 as of 1030GMT.

London's FTSE 100 was up slightly by 2.7 points or 0.04% to 7,036, and Germany's DAX index stood at 15,723 points with no change from the previous close.

The French CAC 40 fell 12.5 points or 0.19% to 6,640 points, while Italy's FTSE MIB posted a decline of 38.23 points, or 0.15%, to 26,999 points.

Spain's IBEX 35 also lost 36.30 points, or 0.41%, to 8,743 points.


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