The meeting of the US Federal Reserve affects stock markets not only in the US or Europe but also in the region of Southeast Asia. While the Seoul Stock Exchange soared on a wave of optimistic expectations, Tokyo and Shanghai headed into negative territory.
Seoul’s aggregate stock index, KOSPI, continued its growth on Wednesday and added 0.13 percent. One of the biggest additions was recorded by technology giant Samsung, which announced its results for the second quarter and exceeded market expectations. Samsung shares strengthened by less than a percent. Optimism was fueled by the forthcoming meeting of the US Fed and the improvement of the outlook for economic growth by the International Monetary Fund. The Korean economy is set to grow by 4.3 percent this year.
Shares in Hong Kong also rose, as measured by the Hang Seng index by 1.54 percent. But that ends the growth in key markets in Southeast Asia. Shares in Shanghai, on the other hand, went down 0.6 percent. The main CSI300 index also weakened by 0.2 percent. Investors continue to fear new government regulations.
The Tokyo Stock Exchange also ended in the red, with the Nikkei index losing 1.39 percent. The growing mood of the coronavirus in the capital brought the market in a bad mood.