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Asian markets end in red on Wednesday

05 Sep 2018 Evaluate

Extending previous session losses, Asian markets ended in red terrain on Wednesday, as investors continued to fret about trade tensions and the turbulence in emerging markets, with South Africa slipping into a recession for the first time since 2009. A cautious undertone prevailed after a threat by the United States to impose tariffs on another $200 billion worth of Chinese imports as soon as a public-comment period ends on Thursday. Chinese shares ended lower, as investors dumped banking, property and resources shares amid fresh signs of anaemic growth, and ahead of a likely escalation of the Sino-US trade war. Activity in China's services sector continued to expand in August, albeit at a slower rate, the latest survey from Caixin revealed with a 10-month low PMI score of 51.5.That missed expectations for 52.6 and was down sharply from 52.8 in July. Further, Japanese shares ended lower as trade worries persisted and tourism-linked shares succumbed to selling pressure after a powerful typhoon slammed into western Japan, cutting power, overturning cars and killing at least eight people. Meanwhile, the services sector in Japan continued to expand in August, and at a faster rate, the latest survey from Nikkei revealed with a PMI score of 51.5, up from 51.3 in July.

Asian Indices

Last Trade           

Change in Points

Change in %

Shanghai Composite

2,704.34

-46.24

-1.71

Hang Seng

27,243.85

-729.49

-2.68

Jakarta Composite

5,683.50

-221.80

-3.90

KLSE Composite

1,795.50

-17.26

-0.95

Nikkei 225

22,580.83

-116.07

-0.51

Straits Times

3,156.28

-54.23

-1.72

KOSPI Composite

2,291.77

-23.95

-1.05

Taiwan Weighted

10,995.13

-26.25

-0.24

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