Rising tensions between the US and North Korea continue to rattle global markets, as the weak lead from the northern hemisphere has flowed into Asian trade.
The ASX200 fell below 5,700, closing 1.18% lower at 5,693.10. Get the local market recap here.
The Aussie dollar was also sold off against most major currencies. It reached a low of around 0.7840 against the US dollar, but staged a small rally late in the session and a short time ago was back above 0.7860.
It’s been a similar story across most Asian markets, with stock falls of at least 1% a common feature of today’s session.
Here’s a summary of the main moves:
- South Korea’s KOSPI index fell throughout the day and a short time ago was down by 1.7%, capping four straight days of losses as the regional tensions with its northern neighbour weigh on the market.
- Hong Kong’s Hang Seng index has fallen by 1.66% on the day, and a short time ago dipped back below 27,000 after climbing above that mark in late July for the first time since 2015. Internet giant Tencent Holdings is down by almost 4%, amid reports by Bloomberg that Chinese authorities are launching a probe into its online content.
- Mainland China’s benchmark Shanghai composite index is also having a rough session, a short time ago down 1.8% for the day.
- India’s Nifty 50 index rounds out a day of losses across Asian markets, a short time ago down 0.55% and back below 10,000 after hitting a record high at the end of last week
Despite geo-political tensions driving heavy falls across global markets this week, stock traders for both the US S&P500 and London’s FTSE index don’t appear to be expecting another sell-off, with futures markets little changed ahead of tonight’s session.
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