Stock markets in Asia and Oceania: Stock prices fall in many markets

On the 21st, stock prices in Asia and Oceania fell in many markets due to widespread sell orders on the view that the timing of the policy rate hike in the US may be earlier than expected.

As of 11:30 a.m. Japan time, representative stock indices in various regions were down by about 1.5 points compared to the closing price at the end of last week.

In Sydney, Australia, the index was down about 1.8%.

In Taiwan, the index was down about 1.2%.

Sydney, Australia and Taiwan were down 1.8% and 1.2%, respectively.

Singapore and Hong Kong were down 0.9% and 0.9%, respectively.

Prices in Singapore and Hong Kong also declined by 0.9% and 0.7%, respectively.

The reason for the decline in stock prices is as follows.

The reason behind the decline in stock prices is that one of the executives of the Federal Reserve, the central bank of the U.S., mentioned last week that the first interest rate hike is expected to be implemented next year, leading the market to believe that the timing of the hike may be earlier than expected.

Market participants said, "Sell orders are spreading across Asia, partly due to a sharp drop in stock prices in Tokyo. This week, Fed Chairman Powell and other senior officials are scheduled to make a series of statements, and the content of these statements is attracting attention".

Source: https://www3.nhk.or.jp/news/html/20210621/k10013095471000.html?utm_int=news-business_contents_list-items_004