Asian markets ended mostly in red on Monday as the oil prices extended last week's slump and a gauge of Chinese manufacturing declined, adding to concerns about global economic recovery. The Chinese Shanghai Composite edged down marginally on growth concerns after data suggested the economy is under significant downward pressure. However, the losses were restricted following the central bank published draft rules for a long-awaited bank deposit insurance scheme. The Chinese manufacturing gauge fell as factory shutdowns aggravated a pullback in the economy, raising pressure on the central bank to ease policy further after it lowered interest rates for the first time in two years. The Japanese stocks rallied hitting a fresh seven-year high, with a weaker yen and encouraging data on capital spending by Japanese companies.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,680.16 | - 2.68 | -0.10 |
Hang Seng | 23,367.45 | -620.00 | -2.58 |
Jakarta Composite | 5,164.29 | 14.40 | 0.28 |
KLSE Composite | 1,778.27 | -42.62 | -2.34 |
Nikkei 225 | 17,590.10 | 130.25 | 0.75 |
Straits Times | 3,305.64 | -44.86 | -1.34 |
KOSPI Composite | 1,965.22 | -15.56 | -0.79 |
Taiwan Weighted | 9,117.71 | -69.44 | -0.76 |