(ANSA) – MILAN, MARCH 15 – Difficult session for Asian stock exchanges, with Chinese stock exchanges experiencing another dramatic day on the fear that Beijing and its companies may also be subject to sanctions due to their ties with Russia.
Hong Kong is losing 6.5%, Shanghai 5%, Shenzhen 4.6% in a context of growing concern also for the progress of the Covid-19 pandemic, which has prompted Beijing to declare new lockdowns. The climate of mistrust surrounding China has not even been affected by the good data from Beijing on investments, retail sales and industrial production.
Less agitated the session for the other lists in the area with Tokyo closing just above par (+ 0.1%) and Seoul and Sydney limited the drops to 0.9% and 0.7% respectively. Futures on Europe and Wall Street are negative, with markets discounting, in addition to fears over the conflict in Ukraine, concern over the Fed’s monetary tightening, which on Wednesday is expected to announce a rate hike in an attempt to contain inflation that in February it reached 7.9%.
The fear that the lockdowns in China could impact the demand of the world’s largest oil importer have caused crude oil to slide below 100 dollars a barrel (-5.8% to 97 dollars the wti and -5.8% to 100, 7 dollars the brent), a decline that also incorporates the faint hopes of progress in the negotiations for a ceasefire in Ukraine. Not even gold is saved from the climate of mistrust (-1.4% to $ 1,933 an ounce) while the yield of American treasuries is slightly down to 2.11%. (HANDLE).
Source: Ansa
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