With coronavirus fears returning at the start to autumn and more travel restrictions looming, stocks in the Asian Market continued to tumble on Tuesday. Asia-Pacific Airlines dropped along with other major market declines. Hong Kong also saw shares of larger airline carrier stocks slip, with China Southern Airlines falling 5.27% and shares of Eastern Airlines at a 4.8% drop.
South Korea, which has been in an economic decline for some months since the pandemic outbreak, saw its Hang Seng index slip by nearly 1%, while HSBC bank stocks dropped 2.05%. Standard Chartered fell by 2.29%, which analysts attribute to recent allegations of suspicious movements of large sums.
Mainland China also saw some sharp declines between 1.29% for the Shanghai composite and nearly 0.96% for the Shenzhen component.
Markets were closed in Japan on Tuesday for Autumn Equinox and Citizen’s Day holidays; however, the MSCI Asia ex-Japan index was down by 1.03% overall.
Ann Sullivan is a contributing staff writer covering national and world news topics. She brings dedicated experience having written international and domestic news, blogs, and web content for over 20 years. She’s also a published poet and graphic designer with degrees in Business and Graphic Communications and has been a music distributor, music industry sponsorship sales director and band manager.