Asian markets lower, Hang Seng drops over 2% after downgrade

Tuesday, 21. January 2020 07:15

The Hang Seng index dropped over 2% on Tuesday after Moody's downgraded Hong Kong’s credit rating to Aa3 from Aa2. In Japan, the national bank decided to keep its negative interest rates on the same level. Meanwhile, the Chinese Ministry of Commerce stated it welcomes "high-quality, and competitive" products from the United States.

The Hang Seng lost 2.50% at 7:09 am CET. The Shanghai Composite declined by 1.31% at 6:54 am CET and the Shenzhen Composite Index was 1.41% down at 7:09 am CET. The Nikkei 225 index in Tokyo decreased by 0.91% at the close. The Kospi was 1.00% lower at 7:10 am CET, while the S&P/ASX 200 in Australia slipped 0.19% at 4:33 at the closing bell.

The dollar dipped 0.18% compared to the yen, going for 109.9675 at 7:13 am CET.

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Breaking the News / MS