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Asian markets end mostly lower on Friday

31 Aug 2018 Evaluate

Asian equity markets ended mostly lower on Friday after media reports suggested that US President Donald Trump is eager to push ahead with higher tariffs on Chinese exports as soon as next week. Trump's threat to pull out of the World Trade Organization and his comments that the European Union is ‘possibly almost as bad as China’ when it comes to trade, also stoked fears of a worsening trade war. Chinese stocks ended lower as renewed concerns over the US-China trade spat overshadowed positive economic data. The manufacturing sector in China continued to expand in August, and at a slightly faster rate, the latest survey from the National Bureau of Statistics showed with a PMI score of 51.3. That beat expectations for a score of 51.0 and was up from 51.2 in July. The non-manufacturing PMI came in at 54.2 also exceeding expectations for 53.7 and up from 54.0 in the previous month. Further, Japanese shares ended marginally lower as jitters over emerging market currencies persisted and a slew of economic data painted a mixed picture of the economy. Japan's industrial output dropped marginally in July and the unemployment rate rose marginally from a month earlier, while the annual core consumer inflation held steady in the month, separate reports showed. Meanwhile, Malaysian markets were closed for a national holiday.

Asian Indices

Last Trade           

Change in Points

Change in %

Shanghai Composite

2,725.25-12.49-0.46

Hang Seng

27,888.55-275.50-0.99

Jakarta Composite

6,018.46-0.50-0.01

KLSE Composite

---

Nikkei 225

22,865.15-4.35-0.02

Straits Times

3,213.48-12.24-0.38

KOSPI Composite

2,322.8815.530.67

Taiwan Weighted

11,063.94-29.81-0.27

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