Sentiments remained bearish in Asian region and all the regional indices butchered on fears that Europe’s leaders will not agree a deal to tackle their debt crisis as the first day of a crucial summit broke up with plans for a full treaty change in tatters. With the mood already soured by the European Central Bank (ECB) saying it would not indefinitely buy the bonds of debt-wracked countries, news of the split within the 27-nation bloc left investors' nerves on edge.
Chinese benchmark declined over half a percent after country’s lower-than-expected inflation data failed to provide much of a sentiment boost around the region, despite hopes for further policy loosening, as it also spurred concerns over growth in the world’s second-largest economy. China’s consumer price index for November was up 4.2% on-year, compared with expectations for 4.4% and October's 5.5%. While, Nikkei fell about one and a half percent on Friday and tested key support at its 25-day moving average after steps by the European Central Bank to help Europe.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,315.27 | -14.55 | -0.62 |
Hang Seng | 18,586.23 | -521.58 | -2.73 |
Jakarta Composite | 3,759.61 | -22.15 | -0.59 |
KLSE Composite | 1,460.13 | -12.79 | -0.87 |
Nikkei 225 | 8,536.46 | -128.12 | -1.48 |
Straits Times | 2,694.60 | -33.71 | -1.24 |
Seoul Composite | 1,874.75 | -37.64 | -1.97 |
Taiwan Weighted | 6,893.30 | -89.60 | -1.28 |
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