Most of Asian Indices ended day’s trade in red over the concerns that the European summit will not be able to solve problems of the euro zone. The German Chancellor Angela Merkel said that there was no easy solution and magic formula to end the problem of the euro crisis.
Nikkei was up by 1.7 percent to its highest close in six weeks due to short covering as the quarter end neared, as banking and insurance companies were largest gainers. The Hang Seng closed down to 0.8 percent as investor’s booked profit on recent outperforming stocks ahead of the euro zone summit. Shanghai Composite was down near to 1 percent as the cement companies were down followed by a warning from China Resource Cement holdings. KOSPI closed day’s trade on a flat note at 0.08 percent as investors were reluctant to take fresh long position ahead of Euro summit. Straits times was up by 0.22 percent as countries top traded stocks rose by both value and volume including the motor vehicle firm Tan Chong International after 158.6 million shares were transacted at S$2.60 in a block deal.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,195.84 | -21.09 | -0.95 |
Hang Seng | 19,025.27 | -151.68 | -0.79 |
Jakarta Composite | 3,887.57 | -47.29 | -1.20 |
KLSE Composite | 1,594.24 | -7.65 | -0.48 |
Nikkei 225 | 8,874.11 | 143.62 | 1.65 |
Straits Times | 2,847.77 | 6.17 | 0.22 |
KOSPI Composite | 1,819.18 | 1.53 | 0.08 |
Taiwan Weighted | 7,169.61 | -13.40 | -0.19 |