Most of the Asian markets have made a soft start, Chinese market too was marginally in red despite the report that China’s services industries rebounded from the slowest expansion in at least 19 months, Services PMI rose to 55.5 in October from 53.7 the previous month. The September’s reading was the weakest since a new seasonally adjusted series of the gauge began in March 2011. A number above 50 indicates expansion. However, it is being said that the improvements may ease pressure on China’s leaders to roll out more stimulus. The Japanese market was trading in red as the yen has strengthened, while the South Korean market has lost its momentum led by fall in carmakers on findings they overstated claims about gas mileage.
Shanghai Composite was down by 7.22 points or 0.34% to 22,036.81, Hang Seng lost 74.52 points or 0.34% to 22,036.81, Jakarta Composite declined by 28.02 points or 0.65% to 4,310.87, KLSE Composite was down by 3.69 points or 0.22% to 1,652.44, Nikkei 225 gained 27.86 points or 0.31% to 9,023.36, Straits Times declined by 18.03 points or 0.59% to 3,022.72, Kospi Composite was up by 11.57 points or 0.60% to 1,907.15 and Taiwan Weighted was down by 30.35 points or 0.42% to 7,180.12.
