Asian markets ended mostly in red on Wednesday, with Hong Kong bracing for bigger protests as Chinese holidays started. Shanghai Stock Exchange and Hong Kong Stock Exchange were closed today on account of ‘National Day’ holiday. Growth in China’s manufacturing sector held up in September but remained subdued in a sign that the world’s second-largest economy is still struggling to recover its growth momentum. The official Purchasing Managers’ Index (PMI) hovered at 51.1, indicating a modest expansion in activity and a touch ahead of forecasts for a 51.0 reading. The data came a day after China cut mortgage rates for the first time since the 2008 global financial crisis to boost its flagging economy, and reinforced a view among some analysts that sluggish domestic demand and a cooling property market were dragging on activity. Indonesian Inflation rose to a seasonally adjusted 4.53%, from 3.99% in the preceding month. South Korean CPI fell to -0.1%, from 0.2% in the preceding month.
The Bank of Japan released its quarterly Tankan business survey for September, showing depreciation of the yen supports the Tokyo stock market, but that higher costs are also hitting household spending. The September Tankan showed that sentiment among major manufacturers rose to plus 13 in September from plus 12 in June, showing that negative effects of weak exports and domestic demand were offset by the yen’s drop. The BoJ is expected to maintain the pace of its asset purchases at its next policy meeting on October 6-7, expecting the economy to continue to recover moderately.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | - | - | - |
Hang Seng | - | - | - |
Jakarta Composite | 5140.91 | 3.34 | 0.06 |
KLSE Composite | 1845.32 | -0.99 | -0.05 |
Nikkei 225 | 16082.25 | -91.27 | -0.56 |
Straits Times | 3264.09 | -12.65 | -0.39 |
KOSPI Composite | 1991.54 | -28.55 | -1.41 |
Taiwan Weighted | 8990.26 | 23.34 | 0.26 |
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