Most of the Asian markets have extended their fall with a soft start; Chinese shares were heading for their longest monthly losing streak since 2004. While the Japanese and South Korean markets were trading lower on reporting lower industrial output numbers. Japan’s industrial output unexpectedly fell to 1.2% during July. Drops in electronics parts and devices led the decline, followed by general machinery, adding to signs that weak global demand is undermining the economy’s recovery. South Korea’s industrial production too fell for a second month in July as Europe’s debt crisis crimped demand for exports. Country’s industrial production contracted to a seasonally adjusted 1.6% in July, following the downwardly revised 0.6% fall in June.
Shanghai Composite was marginally down by 0.54 points or 0.02% to 2,052.93, Hang Seng was down by 64.80 points or 0.33% to 19,488.11, Jakarta Composite declined by 29.02 points or 0.72% to 3,998.84, Nikkei 225 plunged by 99.57 points or 1.11% to 8,884.21 and Kospi Composite was down by 2.58 points or 0.14% to 1,903.55
On the other hand, Straits Times was up by 3.21 points or 0.12% to 3,015.35 and Taiwan Weighted was up by 19.20 points or 0.25% to 7,391.01.
KLSE Composite was closed today on account of Merdeka day holiday.