Asian equity markets ended mostly in red on Thursday, as oil prices retreated from one-month highs and a private survey showed activity in China's service sector expanded at a slower pace for the third straight month in March. Hawkish Fed minutes and anxiety ahead of a two-day meeting between US and Chinese leaders also weighed on markets. Japan's Nikkei share average tumbled to a four-month closing low after signs the US Federal Reserve may start cutting its king-sized balance sheet earlier than expected spooked the market. Hong Kong stocks fell in sympathy with Asia markets, as investors fretted about signs the Federal Reserve could scale back its massive stimulus this year amid frayed nerves ahead of a looming meeting between the US and Chinese presidents. Though, Chinese shares hit four-month highs, led by infrastructure companies after Beijing announced plans to build a special economic zone in the heartland of sleepy Hebei province.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,281.00 | 10.70 | 0.33 |
Hang Seng | 24,273.72 | -127.08 | -0.52 |
Jakarta Composite | 5,680.24 | 3.26 | 0.06 |
KLSE Composite | 1,739.56 | -5.11 | -0.29 |
Nikkei 225 | 18,597.06 | -264.21 | -1.40 |
Straits Times | 3,175.59 | -0.96 | -0.03 |
KOSPI Composite | 2,152.75 | -8.10 | -0.37 |
Taiwan Weighted | 9,897.80 | -51.68 | -0.52 |