Asian stock markets pushed down without deal at US-DPRK Summit

March 04, 2019 | 09:58

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Major Asian stock indexes fell sharply as soon as it was announced that no joint statement would be made by US president Donald Trump and DPRK Chairman Kim Jong Un at the DPRK-US Hanoi Summit.

asian stock markets pushed down without deal at us dprk summit

Major Asian stock indexes fell sharply after the DPRK-US Summit was closed without progress

Taken by surprise by less-than-positive turn in the peace negotiations, global investors, especially in Asia, were quite pessimistic on stock markets across the globe.

Newswire Bloomberg stated that as of the afternoon of February 28, Japan’s Nikkei 255 index lost 195.51 points (0.91 per cent) to land at 21.361 points.

South Korea's KOSPI index was at 2,195.44 points, down 39.35 points (1.76 per cent). This is the sharpest fall for the index since last October.

Hong Kong's Hang Seng index also lost 142.94 points (0.5 per cent), while China's Shanghai index lost 12.87 points (0.44 per cent). The Asia Pacific index lost 0.6 per cent.

The Vietnamese stock market was also in the same situation. Accordingly, as of 3pm of February 28, the Ho Chi Minh City Stock Exchange’s (HSX) VN-Index reached 965.47 points, losing 24.8 points (2.5 per cent). In addition, the VN30 index lost 25.56 points (2.75 per cent) on the same day. 28 codes in the group also fell sharply, except for DHG Pharma JSC (code: DHG) and PetroVietnam Fertilizer and Chemicals Corporation (code: DPM).

Bank stocks also suffered. Specifically, Bank for Investment and Development of Vietnam (BIDV, code: BID) fell by 3.3 per cent, Sacombank (code: STB) by 3.1 per cent, MBBank (code: MBB) by 2.5 per cent, and Vietcombank (code: VCB) by 2.3 per cent.

On the Hanoi Stock Exchange (HNX), the HNX-Index also lost 1.77 points (1.64 per cent) to stand at 105.86 points. Accordingly, ACB, VGC, SHB, VCG, and PVS suffered the largest price falls on the HNX.

At the same time, the UPCOM-Index was at 55.13 points, down 0.85 per cent, equalling 0.47 points.

By Hoang Van

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