Epic Research Update : Asian Markets

[epicresearchindore]

Asian stocks suffered heavy losses on Thursday amid fresh signs of a contraction in China’s economy and following the Federal Reserve’s decision to continue reducing its stimulus.

The final China HSBC purchasing manager’s index (PMI) fell to a new six-month low of 49.5 in January, from last week’s preliminary estimate of 49.6, confirming expectations of a slowdown in the world’s second largest economy.

China’s Shanghai Composite shed 0.36 percent or 7.41 points at 2,042.50 and Hong Kong’s Hang Seng declined 1.46 percent or 324.16 points at 21,817.45. Japan’s Nikkei tumbled 3.18 percent or 488.68 points at 14,895.23 and Singapore’s Straits Times fell 1.11 percent or 33.81 points at 3,014.12. Seoul Composite and Taiwan Weighted shut today.

 

[waktem]

Today Asian Market Performance

Asian stocks suffered heavy losses on Thursday
China%u2019s Shanghai Composite shed 0.36 percent or 7.41 points at 2,042.50
Hong Kong%u2019s Hang Seng declined 1.46 percent or 324.16 points at 21,817.45.
Japan%u2019s Nikkei tumbled 3.18 percent or 488.68 points at 14,895.23
Singapore%u2019s Straits Times fell 1.11 percent or 33.81 points at 3,014.12.
Seoul Composite and Taiwan Weighted shut today.

 

[epicresearchindore]

Epic Research Update : Asian Markets

Asian region despite a positive lead from Wall Street. Buying interest is quite subdued in the Asian markets with Japanese Nikkei reversing all its gains was trading in the red despite reporting some strong earnings.

On the economic front, industrial output in Japan added a seasonally adjusted 1.1 percent in December compared to the previous month. That missed forecasts for an increase of 1.3 percent following the 0.1 percent contraction in November.

Meanwhile, overall nationwide consumer prices in Japan were up 1.6 percent on year in December, exceeding forecasts for an increase of 1.5 percent, which would have been unchanged from the previous month.