Stocks in Asia Open Mixed as Investors Continue to Weigh Economic Risks

Stocks in Asia traded in a mixed session on Thursday, following an overnight loss on Wall Street, as recession fears weighed on the market’s continued bearish sentiment.

As of 9.30 A.M. (Thai time), the Hang Seng index was 1.94% higher. In mainland China, the Shanghai Composite lost 0.10%.

The Nikkei 225 in Japan was down 0.85%. South Korea’s Kospi lost 0.68%. In Australia, the S&P/ASX 200 fell 0.73%. 

“Further easing of Covid restrictions [in China] had been priced in over recent weeks, while the speed of adjustments to policy settings raises concerns about disruptions from the first wave of infections and ongoing containment measures,” Taylor Nugent, an economist at National Australia Bank said on Thursday.

The S&P 500 also recorded its fifth consecutive day of losses overnight, reflecting the general trend in U.S. stocks.