Asian stock exchanges are experiencing a massive collapse amid the introduction of new tariffs by the United States. According to Financial Times, the fall in indices reached the level of the 2008 financial crisis, and analysts do not rule out a repeat of the "Black Monday" of 1987.
In particular, the Hang Seng index in Hong Kong collapsed to 8,7% at the start of trading. Shares of giants Alibaba and Tencent lost more than 11%, and the Chinese battery manufacturer CATL — almost 10%.
The continental CSI 300 index fell by 4%, while the MSCI Asia Pacific index, which covers companies from 13 countries in the region, fell by more than 7%, reports Bloomberg. The key index of Chinese shares in Hong Kong also lost more than 10%.
The decline was also recorded on Japanese stock exchanges. As of 08:27 (Tokyo time), shares of leading corporations lost from 5% to 15%.
Mitsubishi Heavy Industries, Shin-Etsu Chemical, MS&AD Insurance, Inpex Corp. and others also came under pressure.
Live Mint experts warn about the high probability of a repeat of the catastrophic collapses of 1987, when world markets collapsed in a matter of hours. Investors are urgently withdrawing capital, fearing a new wave of global recession.
Thank you for being with us! Monobank for the support of the ElitExpert editorial office.
