Asia Stock Market Continues to Fall

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.