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Asian stocks down on lockdown concerns

22 Sep 2020 11:20 AM

Asian stocks witnessed broad declines as positive sentiment towards global stock markets ebbed, driven by further delays to the US stimulus and fears of a return to lockdown across Europe.

HSBC and Standard Chartered shares fell in Hong Kong by 2%, as bank shares around the world were put under pressure by reports of illegal activity. The two banks have been named in papers describing the handling of more than $2 trillion in suspicious money.

The MSCI Asia Pacific Index, excluding Japan, fell by 0.7%. The Australian S&P/ASX 200 and Hong Kong's Hang Seng Index also both fell 0.5%.

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