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Asian stocks slumped excluding China

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In Shanghai, where the quarantine measures implemented due to the Covid-19 epidemic triggered by the Omicron variant in China were gradually lifted, the curfew was ended in low-risk areas where approximately 12 million people live so far.

Following the lifting of the ban in Shanghai, the Shanghai composite index in China increased by 0.4 percent to 3,096.96 points at the Closing.

In South Korea, the Kospi index decreased by 1.3 percent to 2,592 points.

In Japan, Nikkei 225 index lost 1.9 percent and closed the day at 26.482 points, while the dollar/yen parity traded at 128.1, 0.1 percent below the previous closing level.

In India, the Sensex index fell 2.5 percent to 52,876 points, and Hong Kong’s Hang Seng index fell 2.6 percent to 20,110 points.

Analysts stated that a negative course was followed in the global markets with the panic that the aggressive interest rate hikes by the central banks in the high inflationary environment would drag the economies into recession.

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