Stock exchanges in Hong Kong, Tokyo and Seoul have started a new trading week with a decline. In contrast, Shanghai grew thanks to pharmaceutical titles and good consumer sentiment.
Behind the decline in stock markets in Tokyo and Seoul are concerns about the spread of the SARS-CoV-2 delta virus variant. The Tokyo Nikkei index lost 1.25 percent during trading on Monday and fell below the 200-day moving average. According to analysts, this is an important support.
According to the technical analysis, the Nikkei index could now fall to 25,500 points, which would mean a loss of more than two thousand points compared to the current state. The Seoul index KOSPI depreciated an equal percentage on Monday, driven down mainly by technological stocks led by SK Hynix, Samsung or battery maker LG Chem.
The main stock index of the Hong Kong stock exchange Hang Seng lost 1.84 percent on Monday. Concerns about the spread of the delta variant also played a role here. The market was dragged down mainly by technology stocks, where the entire segment lost over three percent.
The only bright spot on the main stock markets in Southeast Asia thus remained the Shanghai Stock Exchange. The main CSI300 index initially weakened by almost one percent, but ended 0.37 percent higher than at the end of last week. He was mainly helped by the pharmaceutical sector, which strengthened by 2.27 percent.
