The Asian equity markets ended in green on Wednesday after sliding to three and a half year lows the previous day on concerns over a weak outlook for commodities amid slowing economic growth in China. Buying in Japanese market mainly led gains in Asian region with a weaker yen and window-dressing buying at the end of the first half of fiscal 2015 underpinning investor sentiment. Market participants also remained hopeful for more monetary and fiscal stimulus from Japan after the latest data showed that industrial output fell unexpectedly for the second straight month in August and retail sales showed no improvement from a month ago, while housing starts increased for the sixth consecutive month in August, offering some respite to investors worried about deflation and sluggish growth. Moreover, investors await the Bank of Japan’s Tankan survey due on Thursday and household spending figures out Friday to determine whether the central bank will step up monetary policy easing at its October 30 policy meeting. Seoul shares reversed early losses and ended with a gain of over a percent as foreign investors turned net buyers after five consecutive days of selling.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,052.78 | 14.64 | 0.48 |
Hang Seng | 20,846.30 | 289.70 | 1.41 |
Jakarta Composite | 4,223.91 | 45.50 | 1.09 |
KLSE Composite | 1,621.04 | 17.72 | 1.11 |
Nikkei 225 | 17,388.15 | 457.31 | 2.70 |
Straits Times | 2,790.89 | 2.95 | 0.11 |
KOSPI Composite | 1,962.81 | 19.96 | 1.03 |
Taiwan Weighted | 8,181.24 | 48.89 | 0.60 |