Most of the Asian markets have made a soft start and barring Japanese market all other are trading lower by quarter to half a percent, ahead of a meeting by European finance ministers later in the day to discuss the region’s debt crisis. The Chinese market after a week of holidays has made a soft start after the World Bank said that policy makers in Asia’s emerging economies still have room to ease monetary and fiscal policies as China’s slowdown drags the region’s growth to an estimated 11-year low this year. “China’s slowdown this year has been significant,” the World Bank said.
Shanghai Composite was down by 7.95 points or 0.38% to 2,078.22, Hang Seng lost 137.73 points or 0.66% to 20,874.65, KLSE Composite was marginally down by 1.89 points or 0.12% to 1,658.25, Straits Times declined by 18.35 points or 0.59% to 3,089.52, Kospi Composite was lower by 13.45 points or 0.67% to 1,981.72 and Taiwan Weighted declined by 49.01 points or 0.64% to 7,641.64.
Jakarta Composite was the lone gainer, up by 10.30 points or 0.24% to 4,321.62.
Markets in Japan remained closed on account of Health-Sports Day.