Asian stock markets fell in the middle of the week. Technology or mining titles were to blame, as were the collection of profits after previous growths. The CHINESE government’s announcement that it would support the development of renewables or alternative drives for cars also played a role.
The Shanghai Composite Index wrote off a flat percentage in Wednesday trading, while the main CSI 300 index even gained 1.3 percent. Shares of coal miners and energy firms pushed down the stock market. The energy sector weakened by more than four percent, with miners writing off just over three percent. Investors responded to reports that the Chinese government would be more supportive of the development of renewable energy sources or alternatively powered vehicles.
The Hong Kong Stock Exchange’s Hang Seng index also went into negative territory, losing 1.6 percent. The index, which includes Chinese companies, even wrote off 1.8 percent. The Hong Kong Stock Exchange was sunk by technology and medical degrees, which wrote off around 3 percent.
Similar developments occurred in Seoul, where the KOSPI index also weakened by 0.77 percent under pressure from technology. The best of Asia’s major stock exchanges was the one in Tokyo, which weakened by less than a quarter of a percent.
