Most of the Asian equity indices ended the day’s trade in the negative terrain on Wednesday as investors continued to cut back their risk exposure given uncertainty over global growth. Concerns over weak data from China and the US was compounded by fears over Spain’s finances after the country’s cost of borrowing crept closer to levels that have forced other countries to seek bailouts. Moreover, markets will be closely watching for first quarter gross domestic product results, starting with China on Friday. China lowered its GDP growth target last month to 7.5 percent, sparking concern the world's second-largest economy is slowing faster than expected.
Meanwhile, Japanese Nikkei extended their losing streak to seven sessions as a stronger yen, steep declines on Wall Street, and worries about European debt problems sent major exporters reeling. While, Chinese shares yo-yoed in a narrow range for most part of the day’s trade but negotiated a positive end, as investors awaited the release later in the week of GDP data and other indicators.
Stock markets in Malaysia remained closed on Wednesday on account of a nationwide holiday for Installation of the Yang Di-Pertuan Agong. The South Korean markets also remained shut for a holiday due to Assembly Members Election Day.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,308.92 | 3.06 | 0.13 |
Hang Seng | 20,140.67 | -215.57 | -1.06 |
Jakarta Composite | 4,130.01 | -19.79 | -0.48 |
Nikkei 225 | 9,458.74 | -79.28 | -0.83 |
Straits Times | 2,946.44 | -36.00 | -1.21 |
Taiwan Weighted | 7,656.67 | 15.99 | 0.21 |
KLSE Composite | -- | -- | -- |
Seoul Composite | -- | -- | -- |
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