An employee works at the Tokyo Stock Exchange in Tokyo, Japan, on January 13, 2022.
Toru Hanai | Bloomberg | Getty Images
Stocks in the Asia-Pacific region fell sharply on Thursday as investors digested the results of a special survey on factory activity in China.
The Cosby In South Korea it fell 2.28% to close at 2415.61 and the KOSDAQ index lost 2.32% to 788.32.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.76%.
China’s Caixin/Market Manufacturing PMI for August released on Thursday showed that the sector is sliding into contraction this month.
This follows official manufacturing PMI data released on Wednesday Show that factory activity has decreased Amid a recent spike in Covid infections, the nation is facing its worst heatwave in decades.
Overnight in the US, major stock indexes rose earlier in the session, but closed lower for the fourth consecutive day.
The Dow Jones Industrial Average fell 280.44 points, or nearly 0.9%, to 3,1510.43. The S&P 500 fell about 0.8% to end the day at 3,955, and the Nasdaq Composite fell about 0.6% to 11816.20.
“Infuriatingly humble alcohol fanatic. Unapologetic beer practitioner. Analyst.”