Asian shares post sharpest losses in seven years in 2018

Tuesday, 1 January 2019 00:00 - - {{hitsCtrl.values.hits}}

Reuters: Asian stock markets ended 2018 with negative returns in dollar terms, weighed down by trade tensions and slowing profit growth.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 16% this year in its sharpest drop since 2011.

Chinese equities were the top losers in the region, shedding about 29% in dollar terms, followed by Pakistan and South Korea.

This year’s sharp declines have made regional stocks cheaper which could prompt bargain-hunting, some analysts said.

South Korean equities were the cheapest in the region with a forward price-to-earnings ratio of 8.8, followed by China’s 9.9, Refinitiv data showed.

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