Most of the Asian markets have made a soft start amid concerns about the looming U.S. ‘fiscal cliff’. Investors also remained concern after data showed Europe tipping into recession territory while U.S. retail sales disappointed investors. However, Japanese stocks rallied for a second day on expectations of further monetary policy easing after an election next month.
Shanghai Composite contracted 18.03 points or 0.89% to 2,012.26, Taiwan Weighted declined 9.88 points or 0.14% to 7133.96, KOSPI Composite dropped by 4.11 points or 0.22% to1866.61 and KLSE Composite was down by 4.97 points or 0.30% to 1,626.71.
On the flip side, Hang Seng rose 84.83 points or 0.40% to 21,193.76, Nikkei 225 increased 166.19 points or 1.88% to 8,995.91 and Straits Times was up by 1.35 points or 0.05% to 2,947.27.
Jakarta Composite remained closed for the trade today.
