Stocks are lower, with the Japanese yen nearing 150 to the dollar

Thursday, Jan. 13, 2022 in Tokyo, Japan by Japan Exchange Group Inc. (JPX) An employee works at the Tokyo Stock Exchange (TSE).

Toru Hanoi | Bloomberg via Getty Images

Asia-Pacific shares traded lower on Thursday as economic fears prevailed.

The Hang Seng Index Hong Kong fell 2.42% after briefly falling 3%, hitting its lowest level since May 2009. The Hang Seng Tech index was down 3.42% during the lunch break.

Kelvin Day, UBS’s regional chief investment officer, said the sharp drop in Hong Kong markets was due to “the government’s unprecedented silence on key economic indicators”.

“This is due to concerns over the economic outlook and rising Covid cases in the middle of the party congress in Beijing,” he said.

In Japan, the Nikki 225 1.38% and Topix lost 0.91%. The S&P/ASX 200 Australia was down 1.35%.

Mainland China Shanghai Mix Down 0.39% Shenzhen component Down 0.602%.

of South Korea Cosby It fell 1.6% and Costco lost 2.11%. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.72%.

The Sea Yuan It touched an overnight low against the US dollar, weakening to 7.2745 per dollar. Last traded at 7.2612. The Japanese yen Another fresh 32-year low hit 149.95 against the greenback.

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