Asian Stock Markets Fall

Singapore, Markets in Asia, most of which are headed for their worst month since March, either deepened losses or pulled back from highs made after data showed China’s economic recovery remains on track, Reuters reported.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.2%, led by a 1.2% gain in Hong Kong. Japan’s Nikkei fell 1% and Australia’s S&P/ASX 200 fell nearly 2%.
Chinese property developers gained, led by a 15% jump in Evergrande shares after the heavily-indebted giant reached a deal to ease cash crunch concerns.
China’s factory activity expanded at a faster pace in September, helped by rising export orders.
The official manufacturing Purchasing Manager’s Index (PMI) rose to 51.5 in September from 51.0 in August. Analysts had expected it to pick up slightly to 51.2.
Elsewhere, oil prices fell amid rising concerns about fuel demand as the coronavirus pandemic worsens. Brent crude futures were last down 0.9% at $40.66 a barrel and U.S. crude futures were down 0.7% at $39.00 a barrel. Gold slipped 0.4% to 1,890 an ounce.


Source: Saudi Press Agency

Written by