Asian shares plunge as global recovery hopes dim
Asian share markets were seen subdued on Thursday. Shares across the region were posed to record their weakest session in two months as warnings from U.S. Federal Reserve officials underscored investors’ sentiment over the global economic recovery from the coronavirus crisis.
MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 1.93% loss during the afternoon session. The index made large setbacks across Asia, approaching its largest daily drop since July 16. More so, the MSCI index is also posed for its largest weekly decline since March as it plunged more than 4% this week.
China’s blue chips had seen a 1.6% decline, while Hong Kong’s Hang Seng index recorded a 1.7% drop. South Korea’s KOSPI was 2.59% weaker as Australian shares dropped 0.81%. Moreover, Japan’s benchmark index Nikkei fell 1.1%.
European stocks were also seen at lows as equities were heavily dragged by the second wave of coronavirus infections in Europe.