The Asian markets ended mostly in red on Wednesday, amid concerns about an interest rate hike in the US. Growth in China’s investment, retail sales and factory output all missed forecasts in January and February, leaving investors with little doubt that the economy is still losing steam and in need of further support measures. The figures came a day after data showed deflationary pressures in the factory sector intensified in February, and is likely to reinforce expectations of more interest rate cuts and other policy loosening to avert a sharper slowdown in the world’s second-biggest economy. Industrial output grew 6.8% in the first two months of the year compared with the same period a year ago, the weakest expansion since late 2008. Chinese Retail Sales fell to an annual rate of 10.7%, from 11.9% in the preceding month while Chinese Fixed Asset Investment fell to a seasonally adjusted 13.9%, from 15.7% in the preceding month. Philippines Industrial Production fell to a seasonally adjusted annual rate of -1.8%, from 4.2% in the preceding month.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,290.90 | 4.83 | 0.15 |
Hang Seng | 23,717.97 | -179.01 | -0.75 |
Jakarta Composite | 5,419.57 | -43.36 | -0.79 |
KLSE Composite | 1,778.16 | -11.57 | -0.65 |
Nikkei 225 | 18,723.52 | 58.41 | 0.31 |
Straits Times | 3,378.59 | -19.67 | -0.58 |
KOSPI Composite | 1,980.83 | -3.94 | -0.20 |
Taiwan Weighted | 9,523.18 | -13.35 | -0.14 |