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Asian markets tumble on Fed’s comment

20 Jun 2013 Evaluate

Asian markets tumbled badly and ended lower on Thursday, as investor sentiments were hurt by Fed Chairman Bernanke's comments signaling the end of bond buying by the middle of next year. Mainland Chinese shares closed lower after reporting contraction in manufacturing activity at a faster pace in June, reducing the prospects of a promising economic recovery. The flash manufacturing purchasing managers' index fell to a nine-month low of 48.3 in June from 49.2 in May. Japan’s Nikkei stocks fell sharply, on the back of a weaker yen which fell against both the dollar and euro. Hang Seng market went home with huge losses, as Hang Seng China Enterprises Index, which tracks Chinese companies’ Hong Kong-listed shares, tumbled to a nine-month low after the disappointing data.

Asian Indices

Last Trade

Change in Points

Change in %

Shanghai Composite

2,084.02

-59.43

-2.77

Hang Seng

20,382.87

-604.02

-2.88

Jakarta Composite

4,629.99

-176.66

-3.68

KLSE Composite

1,762.34

-10.54

-0.59

Nikkei 225

13,014.58

-230.64

-1.74

Straits Times

3,133.26

-80.53

-2.51

KOSPI Composite

1,850.49

-37.82

-2.00

Taiwan Weighted

7,898.91

-108.48

-1.35

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MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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