Asian markets close mostly in red on Tuesday

29 Sep 2015 Evaluate

The Asian markets closed mostly in red on Tuesday, on concerns over the health of China’s economy. South Korea and Taiwan markets were closed today on account of national holiday. Indonesia will announce the second installment of a stimulus package aimed at supporting the rupiah and reviving growth in Southeast Asia’s largest economy. President Joko Widodo, along with his economics team, will unveil the latest measures at the presidential palace in the coming hours. As part of the package, the central bank is expected to take steps to increase the onshore supply of dollars, including a relaxation of requirements on forward dollar selling and a tax incentive for exporters to keep their dollars in local banks. The government is not expected to announce revisions to the so-called negative investment list that details sectors restricted to foreign funds. The first installment of the stimulus package, announced three weeks ago, has had little effect on markets, and traders doubted whether the coming announcement would evince any significant reaction either. Profits for industrial companies in China dropped 8.8 percent in August, compared to the previous year. It was the biggest fall since October 2011, when the Chinese government first published such data. Chinese coal, oil and gas and metal companies had the greatest losses, information from the National Bureau of Statistics showed.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	3,038.14	-62.62	-2.02
Hang Seng	20,556.60	-629.72	-2.97
Jakarta Composite	4,178.41	57.91	1.41
KLSE Composite	1,603.32	-5.11	-0.32
Nikkei 225	16,930.84	-714.27	-4.05
Straits Times	2,787.94	-3.98	-0.14
KOSPI Composite	-	-	-
Taiwan Weighted	-	-	-

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