Asia-Pacific stocks: Vietnam stocks fall for seven consecutive sessions, Ho Chi Minh Index hits new low since last October

By    24 Apr,2022

Most Asia-Pacific stocks fell as expectations of accelerated Fed tightening grew stronger. This comes after the Fed's Powell said most Fed policymakers support a 50 basis point rate hike in May. Today, the Nikkei 225 and Australian stocks are down more than 1.5%, South Korean stocks are down about 0.86%, and Vietnamese stocks are down for the seventh consecutive trading day, although the decline is limited.

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The Nikkei 225 fell 1.63% to close at 27,105.26 points. The vast majority of sectors fell, with non-ferrous, shipping, steel, real estate and auto stocks leading the decline, while insurance stocks rose.

In terms of individual stocks, SoftBank Group (TYO:9984) fell more than 3% on news that SoftBank intends to scale back its Arm IPO due to unfavorable market conditions.