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Asian markets end mostly lower on Thursday

09 Mar 2017 Evaluate

Asian equity markets ended mostly lower on Thursday as strong US private payrolls data added to expectations the Federal Reserve will raise interest rates next week. Lower commodity prices and mixed inflation data out of China also dampened investor sentiment. While copper hovered near a one-month low on selling triggered by a firmer dollar, oil prices recovered some lost ground in Asian deals after plunging more than 5 percent overnight to their lowest levels this year, on data showing production cuts from OPEC and other exporters have not been enough to reduce US supplies. China's producer price index jumped more than expected by 7.8% in February from the previous year, the fastest pace since September 2008. In contrast, consumer prices slowed from a year ago, to 0.8%, its slowest pace since January 2015, largely due to falling food prices. Japanese shares snapped a four-day losing streak as upbeat US data from payroll processor ADP helped weaken the yen against the dollar and pushed exporter shares higher. Further, China stocks closed at two-week lows as energy shares tumbled on diving oil prices. Renewed weakness in the yuan and weaker-than-expected consumer inflation data also sapped investors' appetite for risk.

Asian Indices

Last Trade            

Change in Points

Change in %  

Shanghai Composite

3,216.75

-23.92

-0.74

Hang Seng

23,501.56

-280.71

-1.18

Jakarta Composite

5,402.39

8.62

0.16  

KLSE Composite

1,717.42

-8.12

-0.47

Nikkei 225

19,318.58

64.55

0.34  

Straits Times

3,118.84

-26.45

-0.84

KOSPI Composite

2,091.06

-4.35

-0.21

Taiwan Weighted

9,658.61

-94.84

-0.97

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