Several Asian stock exchanges entered the red in early August 2024, including Indonesia's Jakarta Composite Index (IHSG).
Based on data from the RTI Business application, at the close of trading on Monday (5/8/2024), the IHSG closed down 3.40% to 7,059.65.
The Hong Kong HSI index fell 1.46%, the Shanghai SSEC fell 1.54%, the Singapore STI fell 4.07%, and the South Korean KOSPI fell 8.77%.
Meanwhile, Japan's Nikkei 225 index plunged as much as 12.4% today.
According to Shanti Kelemen, chief investment officer at the financial management company M&G Wealth, the market downturn is influenced by investor concerns about macroeconomic conditions.
"There are some signs that the market is potentially slowing down a bit. I think this is scaring some people," said Shanti Kelemen, as reported by *BBC.com*, Monday (5/8/2024).
However, Kei Okamura, portfolio manager at Tokyo-based investment firm Neuberger Berman, holds a different view.
"The Asian stock sell-off was triggered by the sharp appreciation of the yen [strengthening of the yen against the US dollar] as global investors are cautious about Japanese corporate earnings, especially exporters such as car manufacturers," said Kei Okamura, as reported by *BBC.com*, Monday (5/8/2024).