Asian markets ended mostly in red on Tuesday amid concerns about the global economic outlook after the International Monetary Fund (IMF) slashed its world economic forecast, citing a range of triggers beyond escalating trade tensions. These potential triggers include a ‘no-deal’ Brexit for the UK and a deeper-than-envisaged slowdown in China. The IMF now projects a 3.5 percent growth rate worldwide for 2019 and 3.6 percent for 2020, down 0.2 and 0.1 percentage points below its last forecasts in October. Brexit worries also lingered as British Prime Minister Theresa May offered nothing new to break the political deadlock just 10 weeks before Britain leaves the European Union. Chinese shares ended lower as investors braced for a tough start to 2019 amid weak economic outlook at home and abroad. Further, Japanese shares ended lower as the yen strengthened on worries over slowing global growth, stalled Brexit talks and the ongoing US government shutdown.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,579.70 | -30.81 | -1.18 |
Hang Seng | 27,005.45 | -191.09 | -0.70 |
Jakarta Composite | 6,468.56 | 17.73 | 0.27 |
KLSE Composite | 1,702.12 | 9.90 | 0.59 |
Nikkei 225 | 20,622.91 | -96.42 | -0.47 |
Straits Times | 3,192.71 | -27.85 | -0.86 |
KOSPI Composite | 2,117.77 | -6.84 | -0.32 |
Taiwan Weighted | 9,894.66 | 5.26 | 0.05 |
