Nikkei sags amid concerns over slowing global growth
On Friday, Asian stocks went down, following worries regarding a slowing global economy.
Japanese Nikkei Stock Average lost 0.4% on Friday. That day Korean Kospi sagged 0.3%, while Australian S&P/ASX 200 lacked 0.9%. At the same time, in Hong Kong, the Hang Seng Index dipped 1.2%. In China, domestic stock markets were unavailable for public holiday.
Shares across the region have mostly grown for recent weeks. The MSCI AC Asia Pacific ex-Japan index, came into Friday still on track in order to score a fourth week of revenues.
However, the propellant upbeat sentiment faded away as traders became more concerned with slowing American as well as global economic growth. A bit earlier this week, the World Bank expects 2016 global growth to hit 2.4%, compared to January’s forecast to 2.9%.
Uncertainty as for potentially market-moving events expected this month kept many traders on the sidelines.