Composite Index closed down 1.81%, investors worried about global economy declining. After the Fed raised interest rates
South Korea's composite stock index closed lower today as investors worried that the U.S. Federal Reserve's aggressive interest rate hikes would trigger a global economic slowdown. The won strengthened against the U.S. dollar.
The South Korea Stock Exchange Composite Index (KOSPI) closed today at 2,290.00 points, down 42.31 points or -1.81%, with light trading volume at 438.3 million shares, valued at 7.3 trillion won (US$5.2 billion), and a number of Negative stocks outweighed positive stocks by a ratio of 796 to 110 stocks.
The Fed decided to raise interest rates by 0.75% at its meeting on Wednesday. which, even though it was as expected by the market But the Fed has continued to signal interest rate hikes in 2566, disappointing investors who expected it to increase further. The Fed will cut interest rates next year.
The Shanghai Composite Index of the Chinese stock market closed lower today, pressured by outflows of foreign capital amid concerns about the COVID-19 pandemic and geopolitical tensions.
The Shanghai Composite Index closed at 3,088.37, down 20.54 points or -0.66%.
The trading environment in China's stock market has been affected by the COVID-19 outbreak situation in China as well as uncertainty regarding the geopolitical situation. and unclear political direction Before the Communist Party congress begins next month.
The semiconductor stock index fell 3.2%, while the new energy stock index fell 2%. Luxury product group and automobile manufacturers They all fell more than XNUMX%.
The Hang Seng Index in Hong Kong closed lower today, pressured by declines in major technology stocks.
The Hang Seng Index closed at 17,933.27 points, down 214.68 points or -1.18%.
Reuters news agency reported that China has sent a team of officials to Hong Kong to help U.S. auditors probe accounts related to Chinese companies. which is part of the agreement between the United States and China
Major tech stocks listed in Hong Kong fell more than 2%, with Tencent shares and Meituan stocks fell 2.3% and 2.2%, respectively, and were the stocks that weighed down the Hang Seng Index the most.
