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Asian Markets end mostly lower on corporate earning concern

29 Oct 2012 Evaluate

Asian stock markets ended mostly lower on Monday as better-than-expected US growth data was unable to offset concerns over corporate earnings. Hong Kong market dragged down by sharp declines in local property developers, following the introduction of a 15% tax on housing purchases by foreign and corporate buyers aimed at cooling soaring property prices. Meanwhile, Japans Nikkei closed in negative territory as stronger yen proved a drag in quiet trading ahead of the Bank of Japan meeting. Taiwan went home with red mark reacting on negative earnings guidance of phone maker HTC Crop for the fourth quarter.

Asian Indices

Last Trade

Change in Points

Change in %

Shanghai Composite

2,058.94

-7.27

-0.35

Hang Seng

21,511.05

-34.52

-0.16

Jakarta Composite

4,331.37

-7.79

-0.18

KLSE Composite

1,672.56

0.67

0.04

Nikkei 225

8,929.34

-3.72

-0.04

Straits Times

3,029.61

-27.90

-0.91

KOSPI Composite

1,891.52

0.09

-

Taiwan Weighted

7,091.67

-42.39

-0.59

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MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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