After a decent opening in morning session following a slew of encouraging US economic reports, most of the Asian peers ended the day’s trade in the red on Thursday as concerns over Europe’s debt crisis returned to the forefront. Chinese shares reversed early gains to close lower for a second-straight session on Thursday, the lowest level since March 2009 as worries about the property sector and tight liquidity conditions hit investor sentiment. Chinese developers broadly declined after property major China Vanke reported Wednesday a 30% on-year tumble in December sales. China Vanke shares dropped 1.1% and Oceanwide Real Estate Group lost 1.5% in Shenzhen.
Moreover, Japanese benchmark Nikkei declined by 0.83 percent as investors turned more cautious after Wednesday’s rally amid more fears over the European debt situation, though energy producers helped lifting Hong Kong stocks on rising crude-oil prices.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,148.45 | -20.94 | -0.97 |
Hang Seng | 18,813.41 | 86.10 | 0.46 |
Jakarta Composite | 3,906.26 | -1.16 | -0.03 |
Nikkei 225 | 8,488.71 | -71.40 | -0.83 |
Straits Times | 2,713.02 | 2.00 | 0.07 |
Seoul Composite | 1,863.74 | -2.48 | -0.13 |
Taiwan Weighted | 7,130.86 | 47.89 | 0.68 |