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Asian markets end mostly in red on Wednesday

12 Oct 2016 Evaluate

The Asian markets ended mostly in red on Wednesday, as Fed rate-hike worries, Alco's disappointing quarterly results, deepening Samsung's woes over Galaxy Note 7 and apprehensions about OPEC's ability to hammer out an output deal sapped investors' appetite for risk. Japanese stocks ended lower, retreating from a five-week high after Wall Street was hit by weak corporate earnings overnight and as investors braced for the reporting season. Chinese stocks fell as renewed worries about weakness in the yuan hurt investor sentiment and reduced the appeal of Chinese assets. The Chinese currency briefly touched a fresh six-year low, fuelling speculation of further depreciation as the dollar firms on growing expectations of a US rate hike in December, though the yuan later clawed back the losses.

Asian Indices

Last Trade            

Change in Points

Change in %  

Shanghai Composite

3,058.50

-6.75

-0.22

Hang Seng

23,407.05

-142.47

-0.60

Jakarta Composite

5,364.61

-17.39

-0.32

KLSE Composite

1,667.03

-1.69

-0.10

Nikkei 225

16,840.00

-184.76

-1.09

Straits Times

2,813.71

-42.42

-1.49

KOSPI Composite

2,033.73

1.80

0.09

Taiwan Weighted

9,252.60

32.78

0.36

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MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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