The Asian markets have made a mixed start with some of the indices trading in red, though gains in financial shares was supporting the markets in the region after China said it will take more steps to support its financial market. Meanwhile, Japanese Prime Minister Yoshihiko Noda has warned China that its inflammatory reaction to a territorial dispute, from violent protests to apparent informal trade sanctions, may scare away foreign investors and can further weaken nation’s economy. Seoul Composite was trading lower, though South Korea’s government plans to cut its fiscal deficit next year to the smallest in six years. According to the Korean Ministry of Strategy and Finance, deficit will shrink to 4.8 trillion won or 0.3 percent of gross domestic product in 2013, down from 14.3 trillion won, or 1.1 percent this year.
Shanghai Composite was down by 8.63 points or 0.42% to 2,024.56, Hang Seng lost 26.96 points or 0.13% to 20,667.74, Kospi Composite lost 9.20 points or 0.42% to 1,994.08 and Taiwan Weighted declined by 28.82 points or 0.37% to 7,739.20.
On the other hand, Jakarta Composite was up by 9.01 points or 0.21% to 4,208.07, KLSE Composite gained 4.24 points or 0.26% to 1,617.00, Nikkei 225 added 25.99 points or 0.29% to 9,095.28, Straits Times was up by 5.80 points or 0.20% to 3,073.96.