Skip to main content

MoneyWorks4Me

Asian markets end in red on Thursday

07 Jan 2016 Evaluate

Asian equity markets ended in deep red on Thursday after China again guided the yuan sharply lower while Shanghai shares tanked more than 7 percent within the first 30 minutes of trading and triggered a stock market circuit breaker for the second time this week. Trading on mainland Chinese markets was suspended for the rest of the day. In light of the early shutdown , Chinese securities regulator issued new rules that restrict share sales by listed companies' major shareholders. Large shareholders who want to sell stakes of more than 1 percent in listed companies have to disclose their plans to the exchanges 15 trading sessions in advance. Adding to the woe was weak oil prices, which declined to 12-year lows in Asian trading hours. Japanese stocks tumbled for a fourth day as a faster-than-expected weakening of the yuan and heightened geopolitical tensions lifted the safe-haven yen to a level last seen in late August.

Asian IndicesLast Trade             Change in Points

Change in %  

Shanghai Composite3,125.00 -236.84-7.04
Hang Seng20,333.34-647.47-3.09
Jakarta Composite4,530.45 -78.53-1.70
KLSE Composite1,655.13-12.84-0.77
Nikkei 22517,767.34-423.98-2.33
Straits Times2,729.91 -74.36-2.65
KOSPI Composite1,904.33-21.10-1.10
Taiwan Weighted7,852.06 -138.33-1.73