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Asian Markets Close Mixed Amid Global Uncertainties
(MENAFN- The Rio Times) Asian stock markets closed with mixed results on Friday. The start of the year brought a somber mood to global markets. Investors grappled with uncertainties surrounding major economies, including China.
Recent data indicated a slowdown in Chinese industry. This news rekindled concerns about the health of economic activity in the country. Chinese government bond yields hit historic lows.
The yuan fell to its lowest level in over a year against the dollar in the onshore market. The Shanghai Composite index ended the session down 1.57% at 3,211.43 points.
The Shenzhen Composite dropped 2.65% to 1,856.46 points. The CSI 300 index fell 1.18% to 3,775.16 points, its lowest level since last October.
Hong Kong's Hang Sen index bucked the trend, rising 0.70% to 19,760.27 points. The People's Bank of China announced a swap operation. It mobilized 55 billion yuan for 20 financial institutions in a market support program.
Taiwan's Taiex index advanced 0.33% to 22,908.30 points. Seoul's Kospi gained 1.79% to 2,441.92 points. This gain came despite the ongoing political crisis in South Korea.
An attempt to arrest the country's suspended president, Yoon Suk Yeol, failed. The Tokyo Stock Exchange remained closed due to a local holiday.
In Oceania, Sydney's S&P/ASX 200 index rose 0.60% to 8,250.50 points. These mixed results reflect the complex economic landscape facing Asian markets.
Investors weigh China's economic challenges against supportive measures from central banks. The global economic outlook remains uncertain as markets navigate these turbulent waters.
Recent data indicated a slowdown in Chinese industry. This news rekindled concerns about the health of economic activity in the country. Chinese government bond yields hit historic lows.
The yuan fell to its lowest level in over a year against the dollar in the onshore market. The Shanghai Composite index ended the session down 1.57% at 3,211.43 points.
The Shenzhen Composite dropped 2.65% to 1,856.46 points. The CSI 300 index fell 1.18% to 3,775.16 points, its lowest level since last October.
Hong Kong's Hang Sen index bucked the trend, rising 0.70% to 19,760.27 points. The People's Bank of China announced a swap operation. It mobilized 55 billion yuan for 20 financial institutions in a market support program.
Taiwan's Taiex index advanced 0.33% to 22,908.30 points. Seoul's Kospi gained 1.79% to 2,441.92 points. This gain came despite the ongoing political crisis in South Korea.
An attempt to arrest the country's suspended president, Yoon Suk Yeol, failed. The Tokyo Stock Exchange remained closed due to a local holiday.
In Oceania, Sydney's S&P/ASX 200 index rose 0.60% to 8,250.50 points. These mixed results reflect the complex economic landscape facing Asian markets.
Investors weigh China's economic challenges against supportive measures from central banks. The global economic outlook remains uncertain as markets navigate these turbulent waters.
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