By Asia-Pacific stocks experienced a significant decline on Friday, August 18. The Japanese market saw a decrease for the third consecutive session, while the Hong Kong market faced six consecutive sessions of decline.
Hong Kong Market
The Hang Seng Index (HK:HSI) of Hong Kong companies weakened by 2.1% to reach 17,950.85. The decline was significant for companies in the pharmaceutical and drug store sector. JD Health International (HK:6618) witnessed the largest decrease, with shares plummeting by 13%. Alibaba Health Information Technology (HK:241) and JD.com (HK:9618) also experienced considerable drops, with their shares falling by 10.3% and 5.3%, respectively. On the other hand, property managers company Country Garden Services (HK:6098) observed an increase of 1.9% in their shares.
Japanese Market
In Japan, the Nikkei 225 Index (JP:NIK) declined by 0.6% to reach 31,450.76. Among the index constituents, department stores company J. Front Retailing (JP:3086) witnessed the largest decrease on Friday, with shares dropping by 4.3%. Fujikura Ltd (JP:5803) and Isetan Mitsukoshi Holdings (JP:3099), both operating in wires/cables and department stores respectively, experienced drops of 4.0% and 3.8% in their shares. On the other hand, chemicals company Kuraray Co Ltd (JP:3405) observed an increase of 3.4% in their shares.
Other Markets
The economic slump also affected other markets in the region. The Shanghai Composite Index (CN:SHCOMP) declined by 1.0%, reaching 3,131.95. Meanwhile, the FTSE Straits Times Index (SG:STI) in Singapore dropped by 0.8% to reach 3,172.40. The KOSPI Composite Index (KR:180721) in South Korea weakened by 0.6%, with shares reaching 2,504.50. The S&P/ASX 200 Benchmark Index (AU:XJO) in Australia remained flat at 7,148.10.
Conclusion
The Asia-Pacific region witnessed a notable decline in stock markets, with Japan and Hong Kong being the most affected. It remains to be seen how these markets will recover from the recent downturn.
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