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Felicia Tan
in
Stocks
June 25 20:38

Asian stock markets have closed low

Asian stock markets reached New lows amid investors' weakening hopes for a relatively fast recovery from the Coronavirus Pandemic crisis.
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Japanese Nikkei 225 index fell by 1.2%.
Shares of Japanese telecommunication company SoftBank Group Corp. fell by 0.5%. Head of the company Masayoshi Son is leaveing the board of directors of Chinese internet giant Alibaba (NYSE:BABA) Group Holding Ltd., the decision takes effect immediately. Song has been a member of the board of directors of Alibaba for 15 years.
In addition, SoftBank said it would raise about US$20 billion through a series of deals in which the company would sell a significant portion of its shares of the U.S. telecom operator T-Mobile US.
The price of securities of car maker Mazda Motor Corp. fell by 5%, Honda Motor Co (T:7267). - by 2.6%, Suzuki Motor Corp. - by 2.3%, Mitsubishi Motors Corp. - by 5.1%.
South Korea's Kospi index dropped by 2.3%.
The capitalization of one of the world's largest chip makers, South Korean Samsung (KS:005930) Electronics Co., decreased by 1.9%. The shares of consumer electronics manufacturer LG Electronics fell by 3.4%. The price of securities of car maker Hyundai Motor dropped by 3.5%.
Australian index S&P/ASX 200 lost 2.5%.
The market value of the world's leading mining companies BHP Group and Rio Tinto (LON:RIO) fell by 2.4% and 1.6%, respectively.
Hong Kong and Mainland China stock exchanges were closed due to holiday.
The World Health Organization (WHO) notes an increase in new COVID-19 cases in the United States, China and Latin America. Australia on Thursday reported the highest number of new infections since April. The United States found a record high number of new infections.