Asian shares plunge on dwindling China economy

30.04.2021 - Petr Mazaylo
Asian shares plunge on dwindling China economy

Asian share markets performed poorly during their early Friday trade. Stocks failed to track Wall Street’s overnight rally as a slew of economic figures across the region dampened investors’ enthusiasm.

China’s Shanghai Composite recorded a 0.61% drop, while the Shenzhen Component traded 0.47% lower. The series of declines followed after the country’s Purchasing Managers Index plunged below expectations.

Japan’s benchmark Nikkei dropped 0.50% after a holiday. South Korea’s KOSPI fell 0.89% as the Tokyo Consumer Price Index contracted an annualized 0.2% in April. Australian shares also traded negatively despite the country’s upbeat Producer Price Index.

Investors digested mixed corporate earnings while expecting the United States to sustain its economic support. U.S. President Joe Biden’s newly unveiled stimulus package also contributed to their cautious sentiment.  

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?