Asian markets have made a mixed start, though some of the indices are trading in green due to gain in the mining stocks across the region, though the Chinese market was trading lower on concern of slowing economic growth that is likely to deepen next year, as export demand slumps. Hong Kong markets have moved higher, after the government decided to widen efforts to cool home prices that have gained almost 90 percent since early 2009. The Hong Kong Monetary Authority will be limiting the maximum term on all new mortgages to 30 years. The Japanese market is closed today on account of a public holiday on ‘Respect for the Aged Day’, while the Malaysian market is closed on account of Malaysia Day public holiday.
Shanghai Composite was down by 8.44 points or 0.40% to 2,118.82, Kospi Composite lost 6.71 points or 0.33% to 2,000.87 and Taiwan Weighted declined by 6.88 points or 0.09% to 7,731.17.
On the other hand, Hang Seng was marginally higher by 2.46 points or 0.01% to 20,632.24, Jakarta Composite was up by 5.13 points or 0.12% to 4,262.13 and Straits Times added 7.86 points or 0.26% to 3,078.28.