Asian equity markets ended mostly in red on Wednesday as lingering geopolitical tensions coupled with political uncertainty in Europe sent investors fleeing from riskier assets. A spate of tepid corporate earnings from the US also weighed on markets. Britain's parliament votes today on holding a snap election in June after Prime Minister Theresa May said she had decided ‘with reluctance’ that an election was needed to strengthen the government's hand as the country commences Brexit negotiations. France heads to the first round of presidential elections on Sunday, with opinion polls suggesting increased uncertainty regarding who will become the next president. Meanwhile, US President Donald Trump said that he didn't live up to a campaign promise to label China a currency manipulator because he believes China will resolve the crisis on the Korean Peninsula. Chinese shares closed lower, as commodity prices fell and investors remained skeptical about the prospects for faster economic growth. The IMF on Tuesday raised its economic growth forecast for China for this year and next but warned of serious longer-term problems unless it reduces its reliance on credit. However, Japanese shares closed marginally higher as the yen weakened slightly, helping lift exporters.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,170.69 | -26.03 | -0.81 |
Hang Seng | 23,825.88 | -98.66 | -0.41 |
Jakarta Composite | - | - | - |
KLSE Composite | 1,738.95 | -1.65 | -0.09 |
Nikkei 225 | 18,432.20 | 13.61 | 0.07 |
Straits Times | 3,126.28 | -11.26 | -0.36 |
KOSPI Composite | 2,138.40 | -10.06 | -0.47 |
Taiwan Weighted | 9,639.94 | -106.62 | -1.09 |