The two main equity indices in Japan were down more than six percent on Monday over the course of the day.
“The magnitude of the collapse shows that there was no hope of temporary breathing space,” said Westpac currency strategist Sean Callow on Monday. In addition, Japan’s economic figures hit the stock markets worse than previously assumed.
The Nikkei index, which comprises 225 values, was 6.2 percent lower at 19,473 points. The broader Topix index fell by 6.1 percent and stood at 1382 points. The Shanghai stock exchange was down 2.2 percent. The index of the most important companies in Shanghai and Shenzhen lost around 2.5 percent. The MSCI index for Asian stocks outside Japan fell 2.5 percent.
Gold asked
The oil price war between Saudi Arabia and Russia that started last weekend caused prices for the most important varieties to plummet by around 30 percent. Investors sought refuge in gold, the price of which rose above the $ 1,700 per troy ounce mark. US government bonds were also in demand. The yield on ten-year paper fell to a record low of 0.5 percent; the yield on 30-year government bonds fell below the one percent mark.
In Asian currency trading, the dollar fell 2.7 percent to 102.47 yen and stagnated at 6.9286 yuan. On the Swiss currency, it was 0.9 percent lower at CHF 0.9289. In parallel, the euro rose one percent to $ 1.1397 and rose 0.1 percent to CHF 1.0592. The pound sterling gained 0.2 percent to $ 1.3067. (chk / sda)
Created: 09/03/2020, 01:02 AM
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