Korean stocks fell 4.6%, underperforming the region, KOSPI 200 futures were briefly suspended, and Hong Kong stocks' afternoon decline expanded to over 800 points

Last week, U.S. President Trump recommended former Federal Reserve Governor Kevin Warsh to succeed the Federal Reserve Chair, taking office in mid-May. The market is focused on interest rate trends and potential "balance sheet reduction" measures, leading to a sharp decline in commodity prices. Major stock markets in the Asia-Pacific region are under pressure today (the 2nd).

The South Korean Composite Index (KOSPI) is currently at 4,983 points, down 240 points or 4.6%, underperforming other major markets in the region; KOSPI 200 futures (most recent contract) fell by 5%, triggering a brief trading halt for 5 minutes, which was later lifted. The Nikkei Index is currently at 52,777 points, down 545 points or 1%. The Taiwan Stock Exchange is currently at 31,624 points, down 439 points or 1.4%.

In mainland China, the Shanghai and Shenzhen markets saw an expanded decline in the afternoon, with the Shanghai Composite Index currently at 4,042 points, down 75 points or 1.8%; the Shenzhen Component Index is down 240 points or 1.7%, at 13,965 points. Hong Kong stocks saw their decline expand to over 800 points in the afternoon, currently at 26,558 points, down 828 points or 3%, with a turnover of 234.42 billion yuan