Business

Asian markets close midweek amid inflation concerns

Asian markets close day with losses due to inflation concerns, European indices recover Tuesday’s losses

While high sales were seen in Asian stock markets due to increasing inflation concerns, stock exchanges closed the midweek in negative territory, excluding Hong Kong.

While challenges related to supply chains and energy supply continue to raise risks, coal prices hit record levels in China, which produces electricity mostly from coal and has problems supplying energy.

The Asia Dow, which includes blue-chip companies in the region, lost 53.2 points,or 1.36%, to close at nearly 3,867 points.

Tokyo’s Nikkei 225 stock exchange also decreased 639.7 points, or 2.12%, to 29,544.The Hang Seng, the benchmark for blue-chip stocks trading on the Hong Kong stock exchange, saw an increase of 163.1 points, or 0.67%, to 24,663.

China’s Shanghai stock exchange was down by 65.9 points or 1.83% to reach almost 3,536 points and the Singapore index dropped by 6.69 points or 0.22% to reach 3,071.

The Indian Sensex benchmark saw a decline of 271.1 points or 0.45% to reach 59,396 points.

On the European side, after major drops at Tuesday’s close, all major indices posted positive figures during the third transaction day of the week.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, was up by 4.34 points or 0.96% to 456.7 as of 1100GMT.

London’s FTSE 100 increased by 64.4 points or 0.92% to 7,092, and Germany’s DAX index reached 15,406 points, up by 157.8 points or 1.03%.

The French CAC 40 earned 69.9 points or 1.07% to 6,576 points, while Italy’s FTSE MIB posted a rise of 230.4 points, or 0.9%, to 25,803 points.

Spain’s IBEX 35 also gained 104.1 points, or 1.19%, to 8,873 points.

Source
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