The Asian stock market was hit by a sale led by the Science and Technology Unit on 23 March, with several major markets falling simultaneously and the regional market value shrunk significantly in a short period of time. Marketers are concerned about whether this turnback will spread further to the global stock market.
Korea, Japan, Taiwan.
The Republic of Korea ' s KOSPI index dropped by 8.2 per cent, evaporating the market value by some $42.6 billion. Japan ' s menstrual index fell by 2.8 per cent, and the market value of about $217.0 billion was erased. The Taiwan stock market fell by 3.5 per cent, and the corresponding market value fell by about $144 billion.
The technology unit is a major drag.
It fell by the technology plate. In the past, the Science and Technology Unit has been an important driver of the rise in Asian markets. As the concentration of funds closed, the related index was overloaded and market sentiment weakened.
Follow up.
Investors will then look at whether the sale has stopped and whether it will trigger more cross-market gain-backs. If the science and technology unit continues to weaken, the volatility of the global equity market may be further exacerbated.