Most of the Asian markets continued to rally on Wednesday led by commodity stocks on hopes that the policymakers will take necessary steps to boost economic growth. Overnight, the US stock market closed in a higher short trading session on report of better than expected factory data. It is expected that there will a cut in interest rate by the European Central banks in the policy meeting tomorrow.
Nikkei closed at two month’s high on Wednesday led by energy and resource companies due to rise in oil prices and improved risk appetite of the investors. Hang Seng closed 0.13 % lower as a result of weakening in large cap financial companies. Shanghai Composite ended largely flat due to release of poor services PMI data which came worst in ten months. Kospi Composite Index rose to its highest level in two months as US data beat estimates.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,227.31 | -1.88 | -0.08 |
Hang Seng | 19,709.75 | -25.78 | -0.13 |
Jakarta Composite | 4,075.92 | 26.02 | 0.64 |
KLSE Composite | 1,613.75 | 6.01 | 0.37 |
Nikkei 225 | 9,104.17 | 37.58 | 0.41 |
Straits Times | 2,948.77 | 3.44 | 0.12 |
KOSPI Composite | 1,874.45 | 6.63 | 0.35 |
Taiwan Weighted | 7,422.59 | 4.23 | 0.06 |