Wednesday, 14 March 2018
Equities decline in Asia on higher political concerns from the US
Asian stock markets
moved lower on Wednesday as a political turmoil in the United States following
the sacking of US Secretary of State Rex Tillerson weighed on investors’
sentiment.
In Japan, the
Nikkei 225 notched down 0.84 percent or 185.30 points, while the Topix eased
about half a percent, with most sub-indexes trading in red territory.
Earlier today,
Japan’s core machinery orders for January came in at an 8.2 percent growth rate
on month and showed a 2.9 percent increase year-over-year, above forecasts.
South Korea’s Kospi
declined 0.41 percent, with automakers making their way up amid a weakening
sentiment in the broader market. Tech companies were mostly mixed.
In Australia, the
ASX/S&P 200 took a 0.81 loss, coming under pressure as major mining
companies such as Rio Tinto and BHP continued to fall in the day.
Meanwhile, Hong
Kong's Hang Seng Index plunged 1.24 percent, with financials and technology
leading other components to the downside.
Mainland China’s
Shanghai composite was down 0.59 percent and the Shenzhen composite traded 0.53
percent lower. Fixed asset investment in China grew 7.9 percent in February,
surpassing an estimated 7.0 percent build and a prior reading of 7.2 percent.
Last month,
industrial production rose by 7.2 percent, against an estimated 6.3 percent and
a previous 6.2 percent. These figures were not enough to cheer market
participants as the Trump administration said overnight it was looking to toughen
up trade tariffs on China.
<<< Asian
Stock Indexes >>>
Australia ASX S&P -34.50 -0.57% 6,042.60
Shanghai Composite -13.93 -0.42% 3,296.31
Hong Kong Hang Seng -425.19 -1.35% 31,176.26
Japan Nikkei 225 -198.50 -0.90% 21,769.60
Taiwan TSEC 50 Index -56.83 -0.51% 11,038.80
<<< Next
in Europe >>>
Germany’s consumer
price index for February will be available at 07:00 GMT, followed by Eurozone’s
industrial production for January at 10:00 GMT.
<<< Next
in the United States >>>
Investors will be
monitoring the producer price index for February and retail sales as of 12:30
GMT. The latest reading on business inventories will be out at 14:00 GMT.
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