(MENAFN– ecpulse)
Indices in the Asian region and Pacific fluctuated on Wenesday, ending the session mixed, in light of rising energy stocks and as real estate companies continue to lose more gains.
Deteriorating economic conditions in China and fears of an asset bubble burst in the financial markets has increased fears among investors and caused them to favor safe-haven investments led initially by the Japanese yen.
- The MSCI Asia Pacific Index dropped 0.2% to 137.81 as of 12:13 in Hong Kong.
Economic data for the Asian region are absent today; however, the Japanese Central Bank announced its minutes of the meeting held in the 22 nd of January, referring to its commitment to conduct monetary stimulus to reach the inflation target at 2%.
- Nikkei 225 closed 0.54% lower at 14970.97.
- Topix closed 0.67% lower at 1225.35.
China’s Shanghai index yesterday retreated to its lowest level in five months amid expectations that the weakness of real estate sector, in addition to the devaluation of the Chinese currency will reduce corporate profits.
- Shanghai Composite closed 0.64% at 2021.85 on 06:22.
- The S&P/ASX 200 closed 0.06% higher at 5436.99.
- New Zealand’s NZX 50 closed 0.11% higher at 4973.20.
- Kospi closed 0.30% higher at 1970.77.
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