The Asian markets have made a soft start after ECB failed to deliver immediate action, also there were concern that Chinese monetary authorities too will go slow to ease policy. However, the Chinese market was the lone gainer in the region as country’s regulators, seeking to arrest a 14 percent slide in the nation’s stock market since this year’s high, reduced transaction fees on equities trading by huge 20 percent. Also there was report that the nation was considering a cut in stamp duty on share trading too. Meanwhile, the Japanese market was leading the losers pack with a loss of over one and half a percent due to some earnings disappointments and as the yen strengthened against all its major counterparts and the dollar.
Shanghai Composite was up by 10.30 points or 0.49% to 2,121.48.
On the other hand, Hang Seng plunged by 200.56 points or 1.02% to 19,489.64, Jakarta Composite lost 24.06 points or 0.59% to 4,069.18, KLSE Composite was lower by 2.81 points or 0.17 to 1,630.64, Nikkei 225 sank by 139.98 points or 1.62% to 8,513.20, Straits Times was down by 2.18 points or 0.07% to 3,034.01, Kospi Composite was down by 12.84 points or 0.69% to 1,856.56 and Taiwan Weighted was lower by 58.13 points or 0.80% to 7,209.81.