Market - - Nov 22,2016
Amidst the debates on China’s impending economic doom, India’s demonetization and Trump effect on the investors, Asian markets give a mixed reaction
The Asian market has been on crossroads since quite some time now, Chinese economy has been threatening to impose recession on itself and the world; Japan’s shares have been falling because of the Tsunami threat; while, Indian markets have been seeing an unexpected low after its currency ban. On Tuesday, the Asian stock market was a mix of wins and losses.
Japan’s Nikkei 225, which fell quite a bit after the rattling earthquake and Tsunami threat gained some pace and rose 0.8% to end at 18,106 points.
China’s stock markets rose to a new 10-month high; The Shanghai Composite index added another 0.8% to end at 3,218 points; whereas, the blue-chip CSI300 index (which includes Shanghai and Shenzen) rose 0.7% to 3,441.1 points. While Hong Kong’s Hang Seng rose up 0.1%. Wu Kan, head of equity trading at Shanshan Finance, said that China's economy is stabilizing which translates to economic growth being “on the path to recovery".
The currency ban in India caused the markets to stoop lower than ever and hit a 52 week low of 22968.85 points. Though on Tuesday, India’s BSE Sensex gained 0.39%, rising up to 25865.79 points, a relieving high after a constant low for weeks.
Thailand’s currency slowed down to 3.2% in the last quarter, baht fell 0.2% against US dollars; the currency is expected to worsen in the final three month of 2016. Stock markets across Thailand have slowed down as well due to, “poor sentiment and decline in activity after King Bhumibol passed away”, reports BBC. South Korea's Kospo also lost 0.4% to 1,966.
Comparing all the wins with losses, it is fair to say that Asian market is struggling to recover after a heavy roller-coaster ride.