Asian markets trade lower; IMF slashes Asia’s growth forecast

Hong Kong’s Hang Seng index is marginally up while South Korea’s Kospi declined 0.73% and S&P/ASX 200 down 0.3%.

Oct 22, 2020 11:10 IST India Infoline News Service

Stocks markets in Asia have take a horrible beating this year and lost as much $6.2trillion.
Asian shares declined on Thursday trade as the International Monetary Fund (IMF) has downgraded its growth forecast for Asia-Pacific.

The IMF on Wednesday downgraded its forecast for Asia-Pacific to -2.2% in 2020 - “the worst outcome for this region in living memory”, the media reports said.

In Japan, the Nikkei 225 dipped 0.56% while the Topix index fell 1%. Mainland Chinese stocks were also lower by the afternoon, with the Shanghai Composite down 0.67% and the Shenzhen Component shed 0.9%.

Hong Kong’s Hang Seng index is marginally up, South Korea’s Kospi declined 0.73% and S&P/ASX 200 down 0.3%.

Overnight stateside, stocks dipped as investors continued to watch for developments in U.S. coronavirus stimulus negotiations. The Dow Jones Industrial Average slipped 97.97 points, or 0.4%, to closed at 28,210.82. The S&P 500 declined 0.2% to finish its trading day at 3,435.56 while the Nasdaq Composite shed 0.3% to close at 11,484.69.

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