All the Asian equity benchmarks, barring Shanghai Composite, are trading in the red terrain in Monday’s morning deals on concern the US government is headed for a shutdown amid a budget stalemate. Investors remained cautious with the U.S. government slated to reach its borrowing limit of $16.7 trillion in mid October. Back on regional turf, the Japanese stock were trading with a cut of over a percent, tracking the weak lead from Wall Street and a stronger yen. In addition, weaker than expected local industrial production data also weighed on investor sentiment. Industrial production in Japan fell a seasonally adjusted 0.7 percent in August compared to the previous month. On a yearly basis, industrial production eased 0.2 percent - also shy of expectations for a gain of 0.4 percent following the 1.8 percent spike in the previous month.
Hang Seng declined 255.58 points or 1.10% to 22,951.46, Jakarta Composite dropped 61.00 points or 1.38% to 4,362.72, KLSE Composite shed 12.60 points or 0.71% to 1,763.56, Nikkei 225 decreased 172.44 points or 1.17% to 14,587.63, Straits Times slipped 18.09 points or 0.56% to 3,192.09, Seoul Composite contracted 6.90 points or 0.34% to 2,004.90 and Taiwan Weighted was down by 51.35 points or 0.62% to 8,179.33.
On the flip side, Shanghai Composite was up by 13.17 points or 0.61% to 2,173.19.
