Thursday Sep 29, 2022
Thursday Sep 29, 2022

Asian shares fall in thin trading after rout on Wall St


Nepalnews
AP
2022 May 02, 9:42, Tokyo
People walk by monitors showing Japan's Nikkei 225 index at a securities farm in Tokyo, Monday, May 2, 2022. Asian shares are lower following a sell-off Friday on Wall Street. Investors are uneasy over the impact on regional economies from inflation, the war in Ukraine and COVID-19 lockdowns in China. (AP Photo)

Asian shares slipped Monday lower following a sell-off last week on Wall Street as investors fretted over the impact on regional economies from inflation, the war in Ukraine and COVID-19 lockdowns in China.

Benchmarks declined in Japan, South Korea and Australia. Trading was closed for holidays in China and many other regional markets.

A report showing pandemic lockdowns have hurt factory activity in China, a main regional driver of growth, was a fresh source of concern.

The monthly purchasing managers’ index, released by China’s National Bureau of Statistics, fell to 47.4 in April, down from 49.5 in March on a 100-point scale. Numbers below 50 show activity contracting.

The COVID-19 outbreaks have impacted China’s factory activities and market demand, said the bureau’s statistician Zhao Qinghe.


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