The Asian markets made mostly a negative close on Wednesday on weak economic data from China and growing concern about the ability of easier monetary policies to stimulate growth. The Chinese government reported that first-quarter gross domestic product grew 7 percent, the slowest pace since the 2009 global recession. Also, the International Monetary Fund has said that it sees Chinese expansion slowing even further to 6.8 percent this year and 6.3 percent in 2016. However, the Hang Seng markets managed a positive close. Hong Kong’s Index has surged 17 percent this year. Malaysian stocks too ended higher supported by gains in the construction sector led stocks.On the other hand Taiwanese market suffered sharp plunge of over a percent.
Asian Indices Last Trade Change in Points Change in % Shanghai Composite 4,084.16 -51.40 -1.24 Hang Seng 27,681.58 57.33 0.21 Jakarta Composite 5,414.55 -4.56 -0.08 KLSE Composite 1,841.22 1.61 0.09 Nikkei 225 19,869.76 -38.92 -0.20 Straits Times 3,539.95 18.87 0.54 KOSPI Composite 2,119.96 8.24 0.39 Taiwan Weighted 9,540.06 -102.16 -1.06