Asian equity markets ended mostly in red in thin trading on Friday, the last trading day before Christmas, after Wall Street stocks fell for a second straight session overnight. Hong Kong stocks ended lower as rosier US growth data deepened fears of money flowing out of emerging markets. The Commerce Department reported that the US economy grew 3.5% in the three months ended September 30, up from a previous estimate of 3.2% and improving from growth of 1.4% in the second quarter. The personal consumption rose 3.0% in the third quarter, up from an initial estimate of 2.7%. Consumer spending typically accounts for nearly 70% of US economic growth. Further, Chinese shares ended lower, dragged down by financials, after two major Chinese cities tightened housing purchase restrictions and reports emerged that regulators would tighten supervision over online insurance products. The Japanese market was closed for the Emperor's birthday.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,110.15 | -29.4 | -0.94 |
Hang Seng | 21,574.76 | -61.44 | -0.28 |
Jakarta Composite | 5,027.70 | -15.17 | -0.3 |
KLSE Composite | 1,617.15 | -6.05 | -0.37 |
Nikkei 225 | - | - | - |
Straits Times | 2,871.05 | -10.99 | -0.38 |
KOSPI Composite | 2,035.90 | 0.17 | 0.01 |
Taiwan Weighted | 9,078.64 | -40.11 | -0.44 |