Asian Stock Markets Hit Lowest This Year: "Delta Variant and Tapering Are the Causes"
[Asia Economy Reporter Song Seung-seop] Major US foreign media reported that Asian stock markets fell to their lowest levels this year on the 19th (local time).
The Morgan Stanley Capital International (MSCI) Asia Pacific Index (excluding Japan), calculated during trading on that day, recorded a 1.63% decline. This is the lowest since December last year. South Korea's KOSPI and KOSDAQ fell sharply by 1.93% and 2.93%, respectively. Hong Kong's Hang Seng, Taiwan's TAIEX, Japan's Nikkei, and China's Shanghai Composite Index also showed downward trends.
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Market experts cited the resurgence of COVID-19 due to the Delta variant and the US Federal Reserve's tapering (reduction of asset purchases) as causes. According to the minutes of the Federal Open Market Committee (FOMC) released last month, the majority of meeting participants stated that "it may be appropriate to start reducing the pace of asset purchases this year."
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