Sensex suffers 1.45% loss as report about Adani Group trigger selloffs for Indian equities
Major Asian stock markets ended Friday with gains except for India.
The Asia Dow, which includes blue-chip companies in the region, rose 0.72% to 3,571.68.
Tokyo’s Nikkei 225 stock exchange increased 0.07% to close at 27,382.56.
Core consumer prices in Japan’s capital Tokyo surge 4.3% year-on-year in January, more than estimates, nearing a 42-year high.
The Hang Seng, the benchmark for blue-chip stocks trading on the Hong Kong stock exchange, rose 0.54% to 22,688.90. points.
The Singapore benchmark index added 0.50% to 3,394.21 points.
The Indian Sensex benchmark,on the other hand, dove 1.45% to 59,330.90, as Adani Group shares triggered selloffs for equities.
After short seller firm Hindenburg Research published this week a report accusing Indian conglomerate Adani Group of fraud, the company has erased more than $50 billion of its market value since Wednesday.
Due to the Lunar New Year holidays, indexes are closed in China throughout the week.