The Asian markets have once again made a weak start with most of the indices trading in red and some of them even lower by over a percent on getting report of manufacturing contraction from US and slower growth in Australian economy. It was reported that Australia’s economy expanded 0.6 percent in the second quarter from the previous quarter and against expectation of gain. Chinese market has recovered from its lowest level since February 2009, though concerns of weakening economic growth were still weighing the sentiments.
Shanghai Composite was the lone gainer, up by 3.25 points or 0.16% to 2,046.89.
On the other hand, Hang Seng plunged by 217.49 points or 1.12% to 19,212.42, Jakarta Composite was lower by 8.28 points or 0.20% to 4,097.29, KLSE Composite was down by 5.52 points or 0.33% 1,648.59, Nikkei 225 lost 73.17 points or 0.83% to 8,702.34 Straits Times was down by 13.91 points or 0.47% to 2,997.11, Kospi Composite declined by 25.97 points or 1.34% to 1,881.42 and Taiwan Weighted lost 64.54 points or 0.87% to 7,386.68.