Asian markets exhibited a mixed trade on Thursday as investors remained cautious ahead of US jobs data on Friday. The sentiments remained subdued as European sovereign debt concerns resurfaced after a dismal result from Spanish bond auctions Wednesday. Moreover, markets were still reeling under pressure of minutes of the US Fed's latest interest-rate meeting, out earlier in the week. Which showed only two of the central bank's members suggesting more bond-buying could become necessary if the economy loses momentum, damping hopes for more such easing.
Meanwhile, Japanese Nikkei share average fell for a third straight day to four-week low on Thursday, hurt by renewed concerns about Europe’s funding difficulties after a weak Spanish debt auction while, Hong Kong shares ended a holiday-shortened week, lower on Thursday, dragged by the Chinese financial sector as investors took profit on the final trading day before a four-day holiday weekend. However, Chinese shares surges over one and a half percent, bolstered by non-banking financials after Premier Wen Jiabao said the monopoly formed by the country's big banks needs to be broken to get money flowing to cash-starved private firms. Shares also got boost from increased optimism with investors taking well to news of potential fresh inflows, after Beijing said on Tuesday it will raise the total quota for its qualified foreign institutional investor (QFII) program.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,302.24 | 39.45 | 1.74 |
Hang Seng | 20,593.00 | -197.98 | -0.95 |
Jakarta Composite | 4,166.37 | 32.34 | 0.78 |
KLSE Composite | 1,593.44 | -5.83 | -0.36 |
Nikkei 225 | 9,767.61 | -52.38 | -0.53 |
Straits Times | 2,986.20 | 1.16 | 0.04 |
Seoul Composite | 2,028.77 | 10.16 | 0.50 |
Taiwan Weighted | 7,639.82 | -121.03 | -1.56 |
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