Asian Markets Head Lower as the Hang Sang Declines

Asian stocks fell this morning even as worries with Turkey’s currency crisis. The Turkish lira stabilized after recovering overnight. It has fallen heavily against the US dollar over the last several days.

The Asian benchmark in Japan, the Nikkei 225, lost 0.44 percent after gaining almost 500 points yesterday. Most sectors were lower today. The oil and coal products sector was down as oil prices fell. Financials and technology also fell lower. Shares of the SoftBank Group lost 1.29 percent and Fast Retailing shares lost 0.27 percent.

Financial markets in India and South Korea were closed today.

Elsewhere in the Asian and Pacific Rim, Australian shares gained. The S&P ASX 200 Was up 0.05 percent. The heavily weighted financials sector, however, was lower. Shares ‘of Commonwealth Bank of Australia shed 3.37 percent. There is a continuing financial sector inquiry causing concern with bank stocks.

Asian Stocks on the Hang Sang Fall Lower

Stocks in China slipped lower this morning. The Shanghai Composite lost about 0.7 percent. Most major insurers, including Ping An Insurance Group, were down. Ping An shed one percent.

The Asian benchmark in Hong Kong, the Hang Sand Index was down. Shares lost about 1.2 percent.

Most sectors were lower on the Hang Sang. Shares of Tencent extended declines. The tech company was down 3.3 percent. The selloff in the tech firm came after news emerged that it has stopped one of its video games. It was pulled from one of its platforms.