Original title: Asia Pacific Stock Market: Canon's stock price plummeted 13% to hit a 21-year low, recording quarterly losses for the first time in history Source: Yingwei Financial Investing.co
Yingwei Financial Investing.com - On Wednesday, most of the Asia-Pacific stock market fell. Affected by public health concerns, the Vietnamese stock market once again plummeted 3%; dragged down by rising yen and poor corporate earnings performance, the Japanese stock market fell more than 1%; and the South Korean stock market rose slightly.
The global market information of Yingwei Financial Investing.com shows:
The Nikkei 225 Index fell 1.15% to close at 22,397.11 points. Most sectors declined, with the steel, transportation equipment, and automobile sectors leading the decline, while the REIT, shipping, and information and communication sectors rose slightly. Korea's KOSPI Index rose 0.27% to close at 2,263.16 points. The non-essential consumer goods, construction, and financial sectors led the way, while the distribution, auto parts, and energy and chemical sectors registered the highest declines. Australia's S&P/ASX200 index fell 0.23% to close at 6,006.40 points. The raw materials, natural resources and metal mining sectors led the decline, while the finance, utilities and essential consumer goods sectors rose.
In Southeast Asia and South Asia markets, at the time of writing, the Singapore Straits Times Index fell 0.16%; Vietnam's VN30 Index fell 3.26%; Indonesia's Jakarta Composite Index fell 0.14%; Thailand's SET Index fell 0.02%; the Philippine Composite Stock Price Index rose 0.66%; India's Mumbai 30 Index fell 0.10%; and Malaysia's Kuala Lumpur Composite Stock Price Index fell 1.14%.
Macro and individual stock news:
Fitch adjusted Japan's outlook to negative, and the country's economy is expected to shrink by 5% throughout 2020
Fitch adjusted Japan's outlook from “stable” to “negative,” but still gave it an “A” rating. Fitch believes that despite Japan's success in controlling the coronavirus, the spread of the coronavirus has led to a sharp contraction in the Japanese economy. According to Fitch, the Japanese economy will shrink by 5% for the full year of 2020.
Singapore's unemployment rate rose to 2.9% in the second quarter, close to the peak during the financial crisis
According to reports, data released by Singapore's Ministry of Manpower on Wednesday showed that the country's unemployment rate in the second quarter rose to 2.9% from 2.4% in the first quarter, a 10-year high, close to the historical record of 3.4% set during the 2009 global financial crisis.
Media: Suspected cases detected in Hanoi, Vietnam
The media said suspected cases of COVID-19 were discovered in Hanoi, Vietnam, while the Vietnamese government said Hanoi should prepare for a possible COVID-19 outbreak. Furthermore, the Prime Minister of Vietnam pointed out that every province and city in Vietnam is now at risk of being infected with the coronavirus.
Nissan Motor Company plummeted by more than 10%, and is expected to lose 4.5 billion US dollars for the whole year
Nissan expects operating losses for the full year ending March 2021 to reach 470 billion yen (equivalent to 4.5 billion US dollars), and is likely to record losses for the second year in a row. Nissan also warned that this year's revenue may drop one-fifth to 7.8 trillion yen, and that car sales will drop from 4.93 million last year to 4.13 million units, the lowest level since 11 years. Furthermore, Nissan announced that it will not pay dividends this year. Nissan Motor Company (T: 7201) closed down 10.25% to 368.7 yen.
Canon plummeted 13%, and its stock price hit a 21-year low
In the second quarter, Canon achieved revenue of 673.3 billion yen (approximately RMB 44.9 billion), a year-on-year decrease of 25.7%; a loss of 8.8 billion yen (approximately RMB 587 million), the first quarterly loss in history. Canon (T:7751) fell 13.51% to 1797.0 yen, a new low since March 1999.
For other companies, Fanuc (T: 6954) plummeted 7% after the company predicted a decline in operating profit for the current fiscal year. McDonald's Japan (T: 2702) fell 7.73%. Earlier, McDonald's said it plans to reduce its shares in McDonald's Japan, and its shareholding ratio will drop from nearly 50% to around 35%.
[This article is from Yingwei Financial Investing.com. To read more, please log on to www.investing.com or download the Yingwei Finance App]
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Editor: Liu Chuan