The Asian markets have made mostly a positive start with few of the indices marginally trading in red with not much cues from the US markets, as they are closed for two consecutive days due to Hurricane Sandy. Japanese market was trading higher on hopes of more stimulus, as the country’s industrial production fell more than forecast. The Trade Ministry reported that output declined 4.1 percent in September from the previous month. In separate development, Japan’s jobless rate stayed the same in September at 4.2 percent, now all eyes are on central bank which will decides whether to ease for the second time in two months. Chinese market was trading flat as the automakers declined after companies posted quarterly earnings.
Shanghai Composite was up by 0.66 points or 0.03% to 2,059.60, Jakarta Composite gained 10.37 points or 0.24% to 4,341.63, KLSE Composite was up by 3.71 points or 0.22% to 1,676.18, Nikkei 225 gained 36.66 points or 0.41% to 8,966.00, Kospi Composite was up by 10.82 points or 0.58% to 1,902.17, Straits Times was up by 5.14 points or 0.17% to 3,034.90 and Taiwan Weighted surged by 92.49 points or 1.30% to 7,183.72.
On the other hand Hang Seng was the lone loser, down by 32.68 points or 0.15% to 21,478.37.
