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Asian markets end higher ahead of German vote

29 Sep 2011 Evaluate

Most of the Asian equity indices ended the day’s trade in the green on Thursday ahead of an expected vote by Germany’s parliament to approve the strengthening of a bailout fund intended to help European countries mired in debt crises. Moreover, recovery in some of the commodities and US stock futures on hopes of progress on Europe’s debt debacle too supported the sentiments. The Nikkei average reversed all its initial losses to retake the 8,700 level for the first time in over a week, on a rush of buying in the final half-hour of trade as on hopes of growth on European debt disaster. However, Chinese benchmark Shanghai Composite dropped over a percent on Thursday to a nearly 15-month closing low, weighed down by commodity and construction-related stocks, as weakness in global stock markets reignited growth concerns. While, Hong Kong financial markets and businesses remained shut for the trade.

Asian Indices

Last Trade

Change in Points

Change in %

Shanghai Composite

2,365.34

-26.72

-1.12

Jakarta Composite

3,537.18

24.01

0.68

KLSE Composite

1,387.46

15.91

1.16

Nikkei 225

8,701.23

85.58

0.99

Straits Times

2,708.13

6.96

0.26

Seoul Composite

1,769.29

46.20

2.68

Taiwan Weighted

7,182.61

35.63

0.50

Hang Seng

-

-

-

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