Asia markets mostly fall as Hong Kong trade is halted due to Typhoon Saola

People walk along a promenade next to Victoria harbour in Hong Kong on August 31, 2023, a day before the arrival of Typhoon Saola. (Photo by ISAAC LAWRENCE / AFP) (Photo by ISAAC LAWRENCE/AFP via Getty Images)

Isaac Lawrence | Afp | Getty Images

Asia-Pacific markets fall as traders await China’s Caixin manufacturing PMI data, amid a slew of other economic data in the region.

In Australia, the S&P/ASX 200 dipped 0.29% in its first hour of trade. South Korea’s Kospi traded up 0.12%. In Japan, the Nikkei 225 was down 0.16%.

Hong Kong is bracing for Super Typhoon Saola and the Hang Seng index will pause trading as the bad weather approaches. According to the Hong Kong stock exchange guidelines, trading will be halted if a No. 8 signal or above is issued before pre-opening and will remain in place until 12 p.m.

As of 6.45 a.m. Singapore/Hong Kong time, the Hong Kong Observatory noted that the Storm Signal No. 8 will “remain in force for most of today.”

Traders are also waiting for a private-sector survey reading of China’s factory activity for July.

Overnight in the U.S., the Dow Jones Industrial Average fell by about 168 points, or 0.5%, to close at 34,721.91. The S&P 500 ticked down nearly 0.2% to 4,507.66. The Nasdaq Composite ticked higher at the closing bell, but still suffers worst month in 2023.

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