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7/1, 7:32 AM (Source: TeleTrader)
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Asian markets drop on recession concerns

Major stock markets in Asia-Pacific dropped in the Friday trading session, as fears over a possible recession continue to linger. On the data front, both Japan and China's PMI reports showed only a soft improvement in their business activity in the month of June. Moreover, Japan's unemployment rate fell by merely 0.1 percentage points on a monthly basis.

In mainland China, the Shanghai Composite decreased 0.56% at 7:27 am CET, with the Shenzhen Composite falling 0.65% at the same time. At 7:29 am CET, South Korea's Kospi Composite dipped 1.67%.

Australia's S&P/ASX 200 gained 0.06% at 7:30 am CET, while Hong Kong's Hang Seng was not trading today due to a market holiday. Japan's Nikkei 225 tumbled 1.89% at 7:31 am CET. The dollar lost 0.56% against the yen at 7:31 am CET, selling for 134.90550.

Baha Breaking News (BBN) / AY