Higher interest rates in China fueled concerns that Chinese policymakers could move to a tighter course to curb stock prices and real estate markets.
(Photo: dpa)
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Such Speculation on a tighter monetary policy course in China scared investors on the Asian stock exchanges on Thursday. In Tokyo, investors cashed primarily in chip values. Investors could not keep hopes of a billion dollar Corona aid package in the USA in the market.
The Nikkei index, which comprises 225 values, fell 1.1 percent to 28,341 points. The broader Topix index fell 0.3 percent. The Shanghai stock exchange fell around 0.4 percent.
Investors are uncomfortable with the recent increase in the short-term end of interest rates in China. Unlike usual, the central bank had not provided any lavish cash injections in the run-up to the New Year celebrations, which caused liquidity concerns on the markets. “There is ongoing speculation that the Chinese authorities want to tighten their monetary policy,” said Wang Shenshen, strategist with asset manager Mizuho Securities.
This was intended to curb the sharp rise in share prices and real estate markets. In Japan, stocks rose Sony with a plus of 9.5 percent. The gaming boom in the corona pandemic is causing optimism at the Japanese electronics company. The Management Board again raised its forecast and now expects operating profit to be a third more than last planned for the 2020/21 financial year ending in March.
More: Wall Street closes in the plus – Amazon papers give way
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