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Asian markets conclude Monday’s trade on mixed note

05 May 2014 Evaluate

The Asian markets concluded Monday’s trade on mixed note, after a closely watched survey indicated manufacturing activity in China slowed more than first thought in April, while the simmering conflict in Ukraine also weighed on the sentiment. Japanese and South Korean markets were shut for trade on account of ‘Children’s Day’ holiday. China’s manufacturing sector contracted for a fourth consecutive month in April, the latest sign that the world’s second-largest economy is slowing. The HSBC purchasing managers index (PMI) came in at 48.1 for last month, a tad up from 48.0 in March but weaker than the 48.3 reported in its preliminary report on April 23. Indonesia’s economy grew at a much slower than expected pace in the first quarter as investments and exports weakened. Gross Domestic Product (GDP) in the January to March quarter rose 5.21% from a year earlier, against 5.72% in the fourth quarter. On a quarterly basis, the economy expanded 0.95%.

In Hong Kong, the total retail sales value in March, provisionally estimated at $39.6 billion, fell 1.3% over the same month last year. The revised estimate of the combined total retail sales value in the first two months rose 6.7% year-on-year, while that of the first quarter increased 4.2%. Separately, the Inland Revenue Department received $243.5 billion in tax revenue in 2013-14, setting another record high after the 2012-13 collection year.

Asian Indices

Last Trade

Change in Points

Change in %

Shanghai Composite

2027.35

1.00

0.05

Hang Seng

21976.33

-284.34

-1.28

Jakarta Composite

4842.50

3.74

0.08

KLSE Composite

1860.54

-8.54

-0.46

Nikkei 225

-

-

-

Straits Times

 3241.60

-10.95

-0.34

KOSPI Composite

-

-

-

Taiwan Weighted

8870.43

3.11

0.04

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