Asian markets finished in red on Wednesday due to risk aversion in the market amid fears about impact of spiking covid cases over the global economic recovery and on caution ahead to US President's big announcement on infrastructure and other measures to support the economic recovery. Upward trend of Bond yields, dollar and crude oil also triggered the downward trend. Shanghai slipped despite the positive manufacturing data of the country counting on rise of dollar with the impending corporate tax hikes by the US government after Biden's stimulus measures. China investors appear to have taken fright at another China tech IPO flopping in Hong Kong today, and as Ruili city in Yunnan province enters a Covid-19 lockdown.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,441.91 | -14.77 | -0.43 |
Hang Seng | 28,378.35 | -199.15 | -0.70 |
Jakarta Composite | 5,985.52 | -85.92 | -1.42 |
KLSE Composite | 1,571.12 | -38.07 | -2.37 |
Nikkei 225 | 29,178.80 | -253.90 | -0.86 |
Straits Times | 3,165.34 | -25.55 | -0.80 |
KOSPI Composite | 3,061.42 | -8.58 | -0.28 |
Taiwan Weighted | 16,431.13 | -123.77 | -0.75 |