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08-Nov2017

Asian markets trade mixed tailing the US indices

Asian markets were showing mixed trend on Wednesday tracking the cues of overnight closing of the US markets and some of the indices are in red amid concern about the progress of U.S. tax reforms, after a report that Senate Republican leaders are considering a delay in the implementation of a corporate-tax cut. Also, the geopolitics remain a focus as U.S. President Donald Trump continues his tour of Asia. In his next stop to Beijing U.S. president is expected to tackle issues such as North Korea and trade with his Chinese counterpart, Xi Jinping. Meanwhile, the Chinese markets were up after country's exports increased 6.9 percent in dollar terms in October from a year earlier. Buoyant global growth is driving demand for Chinese exports. On the other hand the Japanese market was marginally in red as the yen climbed a bit.

KOSPI Index was up by 5.48 points or 0.22% to 2,550.92, Shanghai Composite gained 18.4 points or 0.54% to 3,431.98 and Hang Seng was higher by 85.58 points or 0.3% to 29,079.92.

On the other hand, Nikkei 225 decreased by 37.78 points or 0.16% to 22,899.82, Jakarta Composite declined by 19.82 points or 0.33% to 6,040.63, Taiwan Weighted was lower by 16.42 points or 0.15% to 10,823.92 and FTSE Bursa Malaysia KLCI was down by 2.25 points or 0.13% to 1,748.69.


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