The Asian markets concluded Wednesday’s trade mostly in red, after Chinese manufacturing data signaled persistent weakness in the world’s second-largest economy. China’s factory activity shrank for the fourth straight month in April, signaling economic weakness into the second quarter. But the pace of decline eased, helped by policy steps to arrest the slowdown. The HSBC/Markit flash Purchasing Managers Index for April rose to 48.3 from March’s final reading of 48.0, still below the 50 line separating expansion from contraction. The initial sign of stabilization in the economy was due to the government’s targeted measures to underpin growth, but believe more policy support may be needed as structural reforms put additional pressures on activity.
Meanwhile, China collected 2.6 trillion yuan ($417 billion) in taxes in the first quarter of 2014, up 9.9% year on year. Taiwan’s stock exchange is seeking to create a cross-border stock trading platform with Singapore by this year to boost overseas access to the island's listed shares. In Hong Kong, overall consumer prices rose 3.9% year-on-year in March, the same as in February. Netting out the effects of the government’s one-off relief measures, the underlying inflation rate was 3.6%, also the same as in February.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2067.38 | -5.45 | -0.26 |
Hang Seng | 22509.64 | -221.04 | -0.97 |
Jakarta Composite | 4893.15 | -5.06 | -0.10 |
KLSE Composite | 1867.35 | 0.93 | 0.05 |
Nikkei 225 | 14546.27 | 157.50 | 1.09 |
Straits Times | 3258.01 | -19.52 | -0.60 |
KOSPI Composite | 2000.37 | -3.85 | -0.19 |
Taiwan Weighted | 8956.92 | -17.79 | -0.20 |