Asian stocks fell broadly on Thursday as weak economic data from Australia, Japan and South Korea stoked global growth worries. Investors risk appetite faded as further evidence of a rebound in the U.S. housing market and positive news on U.S. economic growth increases doubt on the Fed's willingness to embark on a third round of quantitative easing. Hang Seng Index ended lower on renewed concerns over the Chinese economy, while local property developers made heavy losses due to concerns that the government could intervene to cool the property market. South Korea's Kospi lost 1.5%, almost in line with index heavyweight Samsung Electronics, which also fell over 1%. Japan's Nikkei ended down 1% at 8983.78, below the 9,000 mark for the first time since August 15.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,052.58 | -0.65 | -0.03 |
Hang Seng | 19,552.91 | -235.60 | -1.19 |
Jakarta Composite | 4,025.58 | -67.59 | -1.65 |
KLSE Composite | 1,646.11 | 0.53 | 0.03 |
Nikkei 225 | 8,983.78 | -86.03 | -0.95 |
Straits Times | 3,011.82 | -29.75 | -0.98 |
KOSPI Composite | 1,906.38 | -22.16 | -1.15 |
Taiwan Weighted | 7,371.44 | -19.71 | -0.27 |