Asian markets traded lower on Friday, despite the overnight rebound on Wall Street amid reduced volatility. Concerns about a liquidity squeeze in China too weighed on market sentiments. Chinese central bank has reportedly injected 100 billion yuan into the financial system on Friday. Japanese shares were hit by investors’ profit-taking after boost from upbeat earnings from technology companies. Oil prices were mixed as slowing demands was balanced by a pending supply cut by Saudi Arabia and lower US oil stocks. Among the Asian markets, Hong Kong, Singapore, Taiwan, China, Malaysia, Indonesia and South Korea are also in negative note.
Nikkei 225 down by 497.28 points 1.76% to 27,700.14, Straits Times dipped by 8.28 points or 0.28% to 2,912.02, Hang Seng decreased by 125.08 points or 0.44% to 28,425.69, Taiwan Weighted narrowed 186.34 points or 1.21% to 15,229.54, Jakarta Composite diminished 95.76 points 1.6% to 5,883.63, Shanghai Composite slipped by 21.95 points or 0.63% to 3,483.23, FTSE Bursa Malaysia KLCI declined by 6.72 points or 0.43% to 1,573.90, and KOSPI Index lower 77.40 points 2.52% to 2,991.65.
