Asian stock markets are trading on a bearish trend

Asian stock markets are trading on a bearish trend

Asian stock markets are trading on a bearish trend

Stock indices of the countries of the Asia-Pacific region (APR) declined during trading on Monday following the US stock market, which closed in the red last Friday for the third week in a row.

In addition, investors continue to monitor the situation with the spread of coronavirus in the world. Several countries are seeing an increase in new infections. British Prime Minister Boris Johnson said that the second wave of the coronavirus epidemic is starting in the country, the British press reported on Friday.

The Japanese stock exchanges are closed on Monday for a holiday (Honoring the Elderly Day).

The Chinese Shanghai Composite index by 08:22 Moscow time dropped by 0.45%, the Hong Kong Hang Seng index – by 1.21%.

The People's Bank of China (PBOC) kept its base annual interest rate (loan prime rate, LPR) at 3.85% for the fifth month in a row. The rate on five-year loans was kept at 4.65%, the NBK said on Monday.

Meanwhile, US President Donald Trump has agreed to a deal that would bring the popular short video sharing service TikTok under the control of American investors, including Oracle Corp (NYSE: ORCL). and Walmart (NYSE: WMT) Inc.

Shares of the automaker Geely Automobile Holdings Ltd. rise in price by 2.5%, the developer Wharf Real Estate Investment Co. – by 0.2%.

HSBC and Standard Chartered (LON: STAN) dropped 3.4% and 2.8%, respectively, in Hong Kong. BuzzFeed News and several other media outlets reported that banks had been involved in the transfer of money for about twenty years, which aroused suspicion. HSBC declined to comment on this information, while Standard Chartered said the bank has invested heavily in compliance programs, CNBC writes.

South Korean Kospi index by 08:20 Moscow time fell by 0.71%.

Capitalization of one of the world's largest chip makers Samsung (KS: 005930) Electronics Co. increases by 0.2%. The shares of the automaker Kia Motors Corp. rise in price by 0.6%, another representative of the industry Hyundai Motor Co. Ltd. – by 2.12%.

Australian index S & P / ASX 200 added 0.67% by 08:21 Moscow time.

The world's largest mining companies BHP Group and Rio Tinto (LON: RIO) lost 1% and 1.2%, respectively. National Australia Bank shares fell 1.3%, Commonwealth Bank of Australia – also 1.3%.

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