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Most of Asian markets conclude Wednesday’s trade in red

25 Sep 2013 Evaluate

Most of the Asian markets barring Hang Seng concluded Wednesday’s trade in red on concern that US lawmakers will fail to arrange a budget deal preventing a government shutdown next week which weighed on sentiment. Indonesian shares led declines and the rupiah reached a four-year low. The weakening rupiah makes the central bank more likely to increase borrowing costs. Bank Indonesia has raised its benchmark interest rate by 1.5% points to 7.25% since the middle of June and will meet next on October 8 to review policy.

Hong Kong recorded a $25.4 billion surplus in its balance of payments for the second quarter, compared with a $16.4 billion surplus in the first quarter, the Census & Statistics Department stated. The current account recorded a deficit of $2.5 billion in the second quarter, compared with a deficit of $6.8 billion for the same period last year. The decrease in the current account deficit was due to increases in the invisible trade surplus and in the net inflow of primary income, partly offset by increases in the visible trade deficit and in the net outflow of secondary income.

Asian Indices

Last Trade

Change in Points

Change in %

Shanghai Composite

2198.52

-9.02

-0.41

Hang Seng

23209.63

30.59

0.13

Jakarta Composite

4406.77

-53.65

-1.20

KLSE Composite

1784.06

-8.42

-0.47

Nikkei 225

14620.53

-112.08

-0.76

Straits Times

3208.58

-3.17

-0.10

KOSPI Composite

1998.06

-9.04

-0.45

Taiwan Weighted

8283.90

-15.22

-0.18

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