Asian markets ended mostly lower on Wednesday amid lingering Sino-US tensions. US President Donald Trump's administration has signed an executive order banning transactions with eight Chinese owned apps, saying they considered to be a threat to US national security. Further, Democratic candidate Raphael Warnock won Georgia’s Senate runoffs on Wednesday. The general thinking is that a US Democratic sweep could make it easier for President-elect Joe Biden to higher corporate tax rates, tougher regulation on businesses and other potentially profit-crimping changes from Washington; while it would also be easier for Biden to pass big fiscal spending. Japanese shares declined with investors concerned over the economic impact from the month-long state of emergency planned by the government to fight a surge in corona virus cases. Though, Chinese shares ended higher after a private sector survey showed China's services sector activity continued to expand in December, albeit at a slower pace.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,550.88 | 22.20 | 0.63 |
Hang Seng | 27,692.30 | 42.44 | 0.15 |
Jakarta Composite | 6,065.68 | -71.66 | -1.17 |
KLSE Composite | 1,591.97 | -16.38 | -1.02 |
Nikkei 225 | 27,055.94 | -102.69 | -0.38 |
Straits Times | 2,863.01 | 3.33 | 0.12 |
KOSPI Composite | 2,968.21 | -22.36 | -0.75 |
Taiwan Weighted | 14,983.13 | -16.90 | -0.11 |
