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Another day of stock market falls in Asia – sharply down in Australia – E24

Another day of stock market falls in Asia – sharply down in Australia – E24
Another day of stock market falls in Asia – sharply down in Australia – E24

Rising interest rates and fears of a recession continue to weigh on the markets. The Sydney stock exchange falls more than 2 percent.

The Sydney stock market falls sharply on Friday. STEVEN SAPHORE / EPA
Published: Published:

Less than 30 minutes ago

As the stock exchange in Australia was kept closed on Thursday, the effect of Wednesday’s US interest rate hike will only be seen on Friday.

The Sydney stock market falls sharply. There is otherwise a broad decline in Asia on the last trading day of the week.

  • Nikkei 225 in Tokyo percent falls 0.58 percent
  • The Hang Seng in Hong Kong is down 0.85 percent
  • The Shanghai Composite falls 1.08 percent
  • Kospi in Seoul falls 1.78 percent
  • The FTSE Straits Times in Singapore is down 0.83 percent
  • The ASX 200 in Sydney falls 2.31 percent

A barrel of North Sea oil trades at USD 89.7 – down 0.61 per cent for the day.

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Interest euro

There is still interest rate turmoil and fear of recession affecting the stock exchanges, writes CNBC.

On Wednesday, US central bank chief Jerome Powell decided to increase the key interest rate by 0.75 percentage points for the third time in a row.

This is happening at the same time as the country is characterized by sky-high price and strong wage growth.

Inflation figures have been presented in Malaysia on Friday. They show that prices rose 4.7 percent in August, in line with expectations, according to CNBC.

Inflation figures from Singapore are also expected on Friday.

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Nobody knows the bottom

Thursday saw a marked drop in the stock market in the US, particularly on the technology-heavy Nasdaq exchange, which fell 1.37 per cent.

Among them were chip manufacturer Nvidia, which ended the trading day down 5.28 percent, Amazon, which fell 1.04 percent and Tesla, which ended down 4.06 percent.

– Where this market will eventually bottom out, no one knows, and events beyond the Fed’s control will likely play a role in where the market ultimately ends up, writes Bespoke Investment Group in a note, according to Marketwatch.

The broad index S&P 500 is down more than 20 percent so far this year.

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The article is in Norwegian

Tags: day stock market falls Asia sharply Australia E24

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