Asian stocks ended weak on Monday as World Bank slashed its growth forecasts for East Asia, emphasizing worries over the global economic outlook, and caution set in about the coming corporate earnings season. An underwhelming return for Shanghai after a week-long holiday added to the negative stand of the day. Investors traded cautiously ahead of Europe’s finance ministers meet in Luxembourg to discuss closer banking cooperation. Hang Seng Index ended lower amid decline in retailers and telecoms companies. Meanwhile, Market volumes were lower than usual, with Japan shut for a public holiday.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2074.42 | -11.75 | -0.56 |
Hang Seng | 20,824.56 | -187.82 | -0.89 |
Jakarta Composite | 4,268.23 | -43.08 | -1.00 |
KLSE Composite | 1,660.22 | -0.01 | - |
Nikkei 225 | - | - | - |
Straits Times | 3,076.65 | -31.22 | -1.00 |
KOSPI Composite | 1981.89 | -13.28 | -0.67 |
Taiwan Weighted | 7,615.89 | -74.76 | -0.97 |