Most of the Asian equity benchmarks are trading in the red terrain in Monday’s morning deals amid concerns about the political impasse in the U.S. on the debt ceiling issue. However, Chinese market was marginally in green despite the data showing China’s export growth unexpectedly fizzled in September, underscoring worries about flagging global demand, and annual consumer inflation quickened to a seven-month high. The overseas shipments dropped 0.3 percent from a year earlier, while imports rose a more-than-forecast 7.4 percent. Meanwhile, consumer prices rose 3.1 percent as food costs advanced the most since May 2012.
Straits Times declined 23.38 points or 0.74% to 3,156.33, Seoul Composite slipped 1.71 points or 0.08% to 2,023.19 and Taiwan Weighted was down by 61.70 points or 0.74% to 8,287.67.
On the flip side, Shanghai Composite rose 10.25 points or 0.46% to 2,238.39 and KLSE Composite was up by 0.20 points or 0.01% to 1,785.95.
Hong Kong, Indonesian and Japanese markets remained closed for the trade today for public holidays.
