Stock markets in the Asian region exhibited pessimistic trends on the last trading session of the week with most markets losing around half a percent ground from previous closing levels. The disappointing overnight close on Wall Street undermined investors’ morale in the Asian region after weaker than expected US unemployment claims data raised fresh concerns over the world’s largest economy’s economic growth prospects. Market participants in the region also lacked conviction to take larger bets amid renewed concerns over the financial situation in Euro-zone as Spanish government bond yields rose after a disappointing debt auction, offsetting some good earnings announcement by blue-chip firms.
The benchmark in South Korea remained the top laggard in the Asian space as it plummeted over one and a quarter percent to the lowest levels in around a week on fresh concerns over the onerous Euro-zone debt trouble and qualms about the strength of US economic recovery. However, the frontline equity indices in China and Indonesia kept their heads marginally above the water as they traded with trivial gains.
Hang Seng declined 84.52 points or 0.40% to 20,910.49, KLSE Composite eased 1.41 points or 0.09% to 1,595.21, Nikkei 225 slipped 40.24 points or 0.42% to 9,548.14, Straits Times Index fell 6.45 points or 0.21% to 3,001.76, Seoul Composite plummeted 27.13 points or 1.36% to 1,972.73 and Taiwan Weighted sank 52.42 points or 0.69% to 7,570.27.
On the flipside, Shanghai Composite eased 0.91 points or 0.04% to 2,379.54 Jakarta Composite fell 3.45 points or 0.08% to 4,167.16.