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Most of Asian markets conclude Monday’s trade in red

07 Oct 2013 Evaluate

Most of the Asian markets barring KLSE Composite concluded Monday’s trade in red as budget gridlock in Washington which shut down the US government now threatens to trigger a devastating debt default. Shanghai Stock Market was closed on account of National Day and will be open for trading on October 8. The World Bank cut its growth forecast for developing economies in East Asia and the Pacific region as a whole in 2013 to 7.1% from the previous forecast of 7.8%. The World Bank expects the Chinese economy to expand by 7.5% this year, down from its April forecast of 8.3% and below the International Monetary Fund’s most recent forecast of 7.75%. China’s 2014 growth is estimated at 7.7%, the World Bank stated, down 0.3% point from the previous prediction.

Japan’s index of leading economic indicators rose less-than-expected last month. The Cabinet Office stated that Japan’s index of leading economic indicators rose to a seasonally adjusted 106.5, from 107.7 in the preceding month whose figure was revised down from 107.8. Taiwan’s trade balance fell more-than-expected last month to a seasonally adjusted annual rate of 2.35B, from 4.59B in the preceding month. Consumer price inflation in Taiwan rose more-than-expected in the last quarter. The National Statistics Taiwan reported that Taiwanese CPI rose to a seasonally adjusted annual rate of 0.83%, from -0.79% in the preceding quarter.

Asian Indices

Last Trade

Change in Points

Change in %

Shanghai Composite

-

-

-

Hang Seng

22973.95

-164.59

-0.71

Jakarta Composite

4374.96

-14.39

-0.33

KLSE Composite

1776.82

0.26

0.01

Nikkei 225

13853.32

-170.99

-1.22

Straits Times

3136.59

-1.49

-0.05

KOSPI Composite

1994.42

-2.56

-0.13

Taiwan Weighted

8333.66

-30.89

-0.37

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