Monday's Asian stock markets close with significant losses| MENAFN.COM

Sunday, 04 December 2022 12:39 GMT

Monday's Asian stock markets close with significant losses


(MENAFN) The first trading day of the week ended in losses for all significant Asian stock markets as a result of actions taken by central banks to preserve the value of national currencies.

The rupee touched a record high of 81.5 versus the dollar on Monday, and the Indian central bank is believed to have sold dollars to stem the drop.

By raising the foreign currency risk reserve ratio from zero to twenty percent, the Chinese central bank also took action to safeguard the yuan.

The Asia Dow, which represents the region's blue-chip corporations, fell by 2.47 percent or 72.63 points to hit 2,863.39. Moreover, Nikkei 225, a stock market in Tokyo, decline by 2.66 percent, or 722.28 points, to reach 26,431.55.

The benchmark for blue-chip equities traded on the Hong Kong stock exchange, the Hang Seng, decreased by 0.4 percent or 78.13 points to hit17,855.14, and The Shanghai Stock Exchange in China closed at 3,051.23 down 1.2 percent, or 37.14 points.

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