Most of the Asian counterparts ended the day’s trade in the positive terrain on Wednesday as investors remained optimistic that the Federal Reserve will announce new monetary easing steps to boost the world's largest economy. Meanwhile, the IMF warned of severe consequences to the global economy unless euro-zone nations strengthen their banking system and the US gets its fiscal affairs in order. It warned that the US and European economies face recession and a ‘lost decade’ of growth unless governments around the world take concerted actions to revamp economic policies. Moreover, Chinese - Shanghai Composite gained over two and a half percent on the back of bargain hunting in banking stocks and increased demand from fund managers.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,512.96 | 65.21 | 2.66 |
Hang Seng | 18,824.17 | -190.63 | -1.00 |
Jakarta Composite | 3,697.49 | -54.62 | -1.46 |
KLSE Composite | 1,419.04 | 8.40 | 0.60 |
Nikkei 225 | 8,741.16 | 19.92 | 0.23 |
Straits Times | 2,791.79 | 10.95 | 0.39 |
Seoul Composite | 1,854.28 | 16.31 | 0.89 |
Taiwan Weighted | 7,535.88 | 43.03 | 0.57 |
