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Asian markets end mostly lower on Wednesday

24 Feb 2016 Evaluate

Asian markets ended mostly lower on Wednesday as hopes for a coordinated production cut by OPEC faded and investors fretted over additional pressure on bank earnings in 2016. Trading sentiment remained sluggish after the major US averages fell over 1 percent overnight amid a spate of worries ranging from lower oil prices to bad loans in the energy sector. Japanese shares hit a one-week low, with sentiment dampened by a stronger yen, weaker U.S. and European data and the oil price decline after both Iran and Saudi Arabia ruled out a deal by major producers to cut oil output. Chinese shares ended higher on hopes that the upcoming meeting by China's legislature starting March 5 will result in more stimulus.

Asian IndicesLast Trade             Change in Points

Change in %  

Shanghai Composite2,928.90 25.56   0.88
Hang Seng19,192.45 -222.33-1.15
Jakarta Composite4,657.72 3.670.08
KLSE Composite1,664.17 -13.11-0.78
Nikkei 22515,915.79 -136.26-0.85
Straits Times2,619.96 -52.11-1.95
KOSPI Composite1,912.53 -1.69-0.09
Taiwan Weighted8,282.86 -51.78-0.62

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