Asian equity markets ended mostly in red on Monday as heightened worries over tensions on the Korean Peninsula and concerns about the upcoming French election offset positive GDP data from China. North Korea tested a missile which ‘blew up’ soon after launch, following a military parade over the weekend. The test came before US Vice President Mike Pence arrived in Seoul for a trip aimed at reassuring American allies in Asia. Chinese shares ended lower, as investors dumped stocks across the board after the country’s top securities regulator vowed to ‘brandish the sword’ and combat market misbehaviours. The markets were also hurt by growing worries that China's economic recovery, and thus the 'reflation trade', is ending, despite data showing the economy grew 6.9 percent in the first quarter, better than expected and the highest since July-September 2015. However, Japanese shares ended slightly higher in thin trade even as the yen benefited from soft US data and rising risk aversion in the wake of mounting geopolitical tensions. Prime Minister Shinzo Abe today urged North Korea to refrain from taking further provocative actions, comply with U.N. resolutions and abandon its nuclear missile development. Hong Kong markets were closed for Easter Monday.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,222.17 | -23.90 | -0.74 |
Hang Seng | - | - | - |
Jakarta Composite | 5,577.49 | -39.06 | -0.70 |
KLSE Composite | 1,733.93 | 2.94 | 0.17 |
Nikkei 225 | 18,355.26 | 19.63 | 0.11 |
Straits Times | 3,138.30 | -30.94 | -0.98 |
KOSPI Composite | 2,145.76 | 10.88 | 0.51 |
Taiwan Weighted | 9,716.40 | -16.53 | -0.17 |
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