Asian shares slump as China records lower-than-expected Q3 growth

Arirang News 2018-10-23

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중국경기둔화로 코스피 장중 2,100선 붕괴, 아시아 주가 동반 급락

Asian shares slumped today.
There's been a cocktail of negative drivers.
From Saudi Arabia's diplomatic isolation, to fresh worries of a slowdown of the Chinese economy and intensifying trade wars.
Kim Ji-yeon help us look beyond the digits.
Korea's benchmark KOSPI fell 2-point-6-percent from the previous trading day, closing near the psychologically significant 2-thousand-100 level on Tuesday.
During mid-day trading it dipped below this level for the first time since March last year.
Foreign investors sold 344-point-3-million U.S. dollars worth of shares from the KOSPI... while institutions sold 259-million dollars of shares.
Shares related to medical supplies, machinery and retail sectors fell the most.
In particular, the share price of Korea's biopharma company Celltrion fell by more than eight-percent... mainly due to the impact of a multi-million dollar block deal by Singapore's sovereign wealth fund Temasek Holdings.
Korea's secondary bourse KOSDAQ also dropped by 3-point-4-percent closing at the 719-level.
Largely due to worries of a slowdown of the Chinese economy, which released lower-than-expected Q3 growth rate of 6-point-5-percent last week,... the Hang Seng index in Hong Kong declined by more than
3-percent... and the Shanghai Stock Exchange fell by 2-point-3 percent.
Japan's Nikkei index dipped by nearly 2-point-7-percent... while the TOPIX fell 2-point-6-percent.
The MSCI broadest index of Asia-Pacific shares outside Japan also skidded by more than 2-percent.
Kim Ji-yeon, Arirang News.

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