The stock market has been suffering sporadic falls and rises that has affected investor sentiments within the industries. At the moment, the market was on the course for a decline that was mainly fueled by growing fears of the United States economy and its negative effects.
This hold-back has mainly been felt in the Asian market, which was the biggest victim and resulted in major Asian markets closing lower than before. A majority of the investors are waiting for updates from the all-important meeting between US President Donald Trump and Chinese premier Xi Jinping.
The market crash reflected across the ocean too, with the Wall Street, Dow Jones Industrial Average and the S&P 500 all closing lower. The Dow Jones was also affected by reports that emerged on Thursday that retail sales sank 1.2 percent in December which is the largest market fall since September 2009.
Back in Asia, The Shanghai composite, slipped 1.37 percent to close at 2,682.38 while he Shenzhen component declined 1.148 percent to close at 8,125.63. At the same time, the Shenzhen composite closed at 1,389.47.
The Asian market’s behavior can be judged based on the projected Chinese inflation data for the month of January, which had missed the mark. Julian Evans-Pritchard, senior China economist at Capital Economics had said:
“While CPI remains at a comfortable level the weak producer price numbers are a concern since these are highly correlated with profit growth in industry.”
Another market that was affected was Japan, as Nikkei 225 fell by 1.13 percent while closing at 20,900.63. The price fall also spread to Japanese conglomerate Softbank Group, with the financial behemoth falling by 4.4 percent. The South Korean market had a bad day too, with Kospi sliding 1.34 percent while giants like Samsung fell by 3.05 percent and SK Hynix fell by 4.6 percent.
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