The Asian markets made a weak closing and barring the Chinese market all the indices in the region ended in red, with some even witnessing cuts of 1-1.5%. It was the concern of US Fed increasing rates in 2016 that led the soft start of the markets, after minutes of Fed's latest meeting indicated that though policy makers wanted more evidence of full employment and gains in inflation before feeling confident in raising rates, but the minutes also said a rate increase was in the cards relatively soon. Later, an unexpected drop in Chinese exports too spurred concern about the outlook for the global economy. China’s exports fell 10 percent in September from a year earlier, while imports declined 1.9 percent. Hang Seng lost the most, down by over one and half a percent, while the recovery in Yen dragged the Japanese market lower. However, the Chinese market itself managed a modestly positive close.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,061.35 | 2.85 | 0.09 |
Hang Seng | 23,031.30 | -375.75 | -1.61 |
Jakarta Composite | 5,340.40 | -24.21 | -0.45 |
KLSE Composite | 1,665.02 | -2.01 | -0.12 |
Nikkei 225 | 16,774.24 | -65.76 | -0.39 |
Straits Times | 2,805.48 | -8.23 | -0.29 |
KOSPI Composite | 2,015.44 | -18.29 | -0.90 |
Taiwan Weighted | 9,219.17 | -33.43 | -0.36 |