Most Asian stock market indices experienced a decline today due to escalating tensions in West Asia, while major European indices were trading up.
Escalating tensions in West Asia sapped risk appetite as most Asian stock market indices ended negatively today. South Korea’s Kospi plunged 5.7 per cent, Japan’s Nikkei 225 shed over 2.7 per cent, Taiwan’s Taiex dropped nearly 2.7 per cent, China’s Shanghai Composite declined 1.6 per cent, and Hong Kong’s Hang Seng Index lost one per cent. However, Singapore’s Strait Times index bucked the trend, rising 0.1 per cent. On the economic front, Japan’s core consumer price index (CPI), which excludes fresh food prices, rose to 1.6 per cent year over year in June, up from 1.4 per cent in May. This marks the first acceleration in core inflation since March. According to the data released by Statistics Bureau of Japan, headline inflation also rose to 1.7 per cent year over year in June, compared with a 1.5 per cent increase in May.
In contrast, major European indices were trading with gains today. Germany’s DAX jumped 0.7 per cent, France’s CAC 40 increased nearly 0.4 per cent, and London’s FTSE 100 added 0.2 per cent, when reports last came in.
Source:
Akashvani News
