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Most of Asian markets conclude Wednesday’s trade in red

16 Oct 2013 Evaluate

Most of the Asian markets concluded Wednesday’s trade in red as investors monitored Washington’s budget deadlock ahead of the deadline for raising the debt ceiling. Investors in Chinese assets were also awaiting Friday’s release of government data, including third-quarter gross domestic product. A strengthening rupiah coupled with a narrowing current-account deficit and slowing inflation will put Indonesia in better shape to face the impact of a potential US debt default. The central bank stated that the nation’s banks are sound enough to withstand the pressures of a falling currency, rising inflation and slowing growth.

South Korea’s unemployment rate fell in September to a seasonally adjusted 2.7%, led by new jobs in service industries. The data compared with 3% reported in August and 2.9% in September of last year. South Korea’s economy is expected to grow 2.8% this year after expanding just 2% in 2012. Sales of new private homes in Singapore rose for the second-straight month in September as firm demand for suburban housing lifted the city-state’s real-estate market off a recent slump. According to data published by the Urban Redevelopment Authority, private developers sold 1,246 new residences in September, up 65% from a revised 756 units in August.

Asian Indices

Last Trade

Change in Points

Change in %

Shanghai Composite

2193.07

-40.34

-1.81

Hang Seng

23228.33

-108.19

-0.46

Jakarta Composite

4492.26

-27.65

-0.61

KLSE Composite

1791.37

6.61

0.37

Nikkei 225

14467.14

25.60

0.18

Straits Times

3174.03

8.78

0.28

KOSPI Composite

2034.61

-6.35

-0.31

Taiwan Weighted

8332.18

-35.70

-0.43

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