The Asian markets closed mostly in red on Monday, while Jakarta Stock Exchange was closed on account of ‘Independence Day’ holiday. Beijing is stepping up curbs on property market speculation after prices surged in one area of the capital, raising concerns some bigger cities may also tighten home purchase rules. China’s year-long slump in the housing market has dragged on the economy but there are fears bubbles are forming in some big cities even as prices in smaller cities languish. South Korean President Park Geun-hye stated that the domestic economy was returning to a modest recovery path after the shocks of the deadly Middle East Respiratory Syndrome ( MERS), but expressed concerns about China’s devaluation of the yuan. Japan’s economy shrank at an annualized pace of 1.6 percent in the April-June period, contracting for the first time in three quarters on weak exports and consumer spending. The preliminary reading for gross domestic product compared with the median estimate of a 1.9 percent contraction. It followed a revised 4.5 percent expansion in the first quarter.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,993.67 | 28.33 | 0.71 |
Hang Seng | 23,814.65 | -176.38 | -0.74 |
Jakarta Composite | - | - | - |
KLSE Composite | 1,572.54 | -24.28 | -1.52 |
Nikkei 225 | 20,620.26 | 100.81 | 0.49 |
Straits Times | 3,067.35 | -46.90 | -1.51 |
KOSPI Composite | 1,968.52 | -14.94 | -0.75 |
Taiwan Weighted | 8,213.42 | -92.22 | -1.11 |