Asia-Pacific markets fell at the end of last week's trading after U.S. President Donald Trump stated he would announce his nominee for Federal Reserve Chair this Friday. In his speech at the premiere of the film 'Melania', which covers the life of First Lady Melania Trump, he mentioned that the five-month search for a successor to current Chair Jerome Powell is nearing its conclusion. Meanwhile, the Hang Seng index in Hong Kong declined by 0.71%, and the Stoxx 600 European index dropped by 0.58%. In contrast, South Korea's Kospi index rose by 1.23%, and the Kosdaq index for small companies increased by 0.99%. Australia's S&P/ASX 200 index fell by 0.76%.
Asian Markets Drop After Trump's Fed Chair Nomination Announcement
Asia-Pacific markets fell last week after U.S. President Trump announced he would reveal his nominee for Federal Reserve Chair. The Hang Seng index dropped, while South Korea's Kospi index rose.