Asian equity indices ended mostly in the red terrain on Monday as investors remained concern about mounting fears about a Greek default and uncertainty over the timing of a Federal Reserve rate hike. Moreover, apprehensions about whether China will be able to keep its economy from losing too much steam too kept investors on edge. Hong Kong’s Hang Seng remained the top loser among Asian peers, down by over two percent as investors turned cautious after the buying frenzy that sent both Chinese and Hong Kong stocks surging in the past few weeks. Chinese Shanghai too edged lower as a crackdown by the China Securities Regulatory Commission on margin lending overshadowed positive sentiment arising from additional policy easing to bolster the slowing economy. China’s securities regulator on Friday said it would allow fund managers to lend shares for short-selling amid the continued surge in stock prices. The China Securities Regulatory Commission also tightened rules on margin lending and warned investors to be rational, sending stock-index futures down more than 5 percent in after-hours trading Friday. However, Seoul shares rose for a seventh consecutive session, with auto, chemical and other large-cap shares pacing the gainers, buoyed by the Chinese stimulus action.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 4,217.08 | -70.22 | -1.64 |
Hang Seng | 27,094.93 | -558.19 | -2.02 |
Jakarta Composite | 5,400.80 | -9.84 | -0.18 |
KLSE Composite | 1,848.66 | 2.80 | 0.15 |
Nikkei 225 | 19,634.49 | -18.39 | -0.09 |
Straits Times | 3,503.25 | -21.94 | -0.62 |
KOSPI Composite | 2,146.71 | 3.21 | 0.15 |
Taiwan Weighted | 9,552.85 | -18.08 | -0.19 |