Asian equity markets ended mixed on Thursday after overnight slide in US and European peers. While strong regional earnings as well as higher oil and metal prices helped spur stock-specific buying, renewed geopolitical tensions and uncertainty over US political risks served to keep underlying sentiments somewhat cautious. Fitch Ratings said the US's sovereign rating would be in jeopardy if Congress can't get a deal done to raise the federal debt ceiling in a timely manner. Investors also kept a close eye on a central banking conference in Jackson Hole, Wyoming, beginning later in the day, where Fed Chair Janet Yellen and ECB President Mario Draghi are due to speak. Chinese shares fell the most in two weeks as investors booked profits after recent gains on optimism over state-owned enterprise restructuring. Meanwhile, Japanese shares hit a 3-1/2-month low as steelmakers succumbed to heavy selling after reports of price cuts and US President Donald Trump's comments on NAFTA and the debt ceiling prompted haven demand for the yen.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,271.51 | -16.19 | -0.49 |
Hang Seng | 27,518.60 | 116.93 | 0.43 |
Jakarta Composite | 5,894.12 | -19.91 | -0.34 |
KLSE Composite | 1,775.50 | 2.56 | 0.14 |
Nikkei 225 | 19,353.77 | -80.87 | -0.42 |
Straits Times | 3,272.16 | 12.11 | 0.37 |
KOSPI Composite | 2,375.84 | 9.44 | 0.40 |
Taiwan Weighted | 10,488.96 | 82.15 | 0.79 |
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