Stocks Decreased in Asian Stock Markets on October 20
Stocks decreased in Asian stock markets on October 20. Stocks followed a sales-weighted course in Tuesday’s trading.
Asian stocks fell after a weak Wall Street session. While indices fell in Japan, Australia and South Korea, stocks in Hong Kong were mixed.
The Australian dollar depreciated after comments from the Federal Reserve’s assistant governor that short-term interest rates could turn negative.
The Bank of China kept the benchmark basic loan rate (LPR) at 3.85 percent, in line with the expectations. The bank has not changed the LPR for the last 6 months. The Chinese Central Bank kept the 5-year LPR at 4.65 percent in line with the market expectations.
The increase in new housing prices in China continued in September. According to the data released by the National Statistics Bureau on Tuesday, the average new house prices in the country rose by 0.34 percent across 70 cities on a monthly basis in September. Looking at the index on an annual basis, prices increased in 59 out of 70 cities.
– The Topix Index fell 0.4 percent.
– Australia’s S & P / ASX 200 Index fell 0.4 percent.
– The South Korean Kospi Index remained flat.
– Hong Kong’s Hang Seng Index was mixed.
– The Shanghai Composite Index fell 0.4 percent.