Asian equity markets ended mostly in red on Friday due to heavy selling pressure as broad declines on Wall Street and in Europe overnight overshadowed encouraging manufacturing data from China. Japanese shares hit two-week lows, with a stronger yen, weak overnight cues from Wall Street and mixed economic reports weighing on sentiment. While consumer price inflation rose for the fifth straight month in May, consumer spending remained tepid, the jobless rate ticked higher and industrial output slipped back into contraction, adding to underlying risks. However, Chinese shares bucked the weak trend to end a tad higher as official manufacturing and services sector data added to signs of a stabilizing economy. China's official manufacturing PMI rose to 51.7 in June from 51.2 in May, marking the quickest pace of expansion in three months. Non-manufacturing activity also expanded at a faster pace in June, with the PMI coming in at 54.9, up from 54.5 in May. Meanwhile, Indonesian markets remained closed today.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,192.43 | 4.36 | 0.14 |
Hang Seng | 25,764.58 | -200.84 | -0.77 |
Jakarta Composite | - | - | - |
KLSE Composite | 1,763.67 | -7.69 | -0.43 |
Nikkei 225 | 20,033.43 | -186.87 | -0.92 |
Straits Times | 3,226.48 | -32.17 | -0.99 |
KOSPI Composite | 2,391.79 | -3.87 | -0.16 |
Taiwan Weighted | 10,395.07 | -26.58 | -0.26 |
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