Asian markets ended lower on Wednesday amid concerns over trade and worrying signals of economic health after the difference between three- and five-year US Treasury yields dropped below zero. Traders were skeptical around the Trump-Xi agreement announced over the weekend. In China, traders paid little attention to encouraging services data. The services sector in China continued to expand in November, and at an accelerated rate, the latest survey from Caixin revealed with a PMI score of 53.8. That beat expectations for 50.8, which would have been unchanged from the October reading. While, the latest survey from Nikkei showed that the services sector in Japan continued to expand in November, albeit at a fractionally slower pace with a PMI score of 52.3, down from 52.4 in October. Chinese shares ended lower as investor doubts mounted over whether China and the United States will be able to settle their trade dispute before the 90-day deadline expires, and as new data showed a worsening business outlook. Further, Japanese shares fell after a plunge on Wall Street overnight on growth and trade concerns.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,649.81 | -16.15 | -0.61 |
Hang Seng | 26,819.68 | -440.76 | -1.64 |
Jakarta Composite | 6,133.12 | -19.74 | -0.32 |
KLSE Composite | 1,688.27 | -6.72 | -0.40 |
Nikkei 225 | 21,919.33 | -116.72 | -0.53 |
Straits Times | 3,155.92 | -11.87 | -0.38 |
KOSPI Composite | 2,101.31 | -13.04 | -0.62 |
Taiwan Weighted | 9,916.74 | -166.80 | -1.68 |
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