(MENAFN– ecpulse)
Asian stocks dropped significantly today followed by the Chinese weak data that came worse than expected, and with the renewed geopolitical tensions in Ukraine with Britain`s desire to expand its operations against Islamist Group ISIS after the beheading of the British hostage, this came amid low trading volumes in markets as Japanese markets are closed today celebrating respect for the elderly.
Asian stocks especially Chinese were Influenced by the industrial production data for the month of August, which showed an increase of 6.9% annually, which is the slowest pace of acceleration of the index since 2008, while retail sales data and fixed assets came worst than expectations.
- Chinese CSI 300 ended 0.05% lower at 1.17 and is trading around 2437.19.
- Shanghai Composite ended 0.31% higher at 7.19 and is trading around 2339.14.
- Hang Seng ended 0.97% lower at 238.33 and is trading around 24356.99.
Asian indices were affected by the renewed geopolitical tensions after the news about fighting in east of Ukraine at Donetsk airport despite the truce, which includes a cease-fire between them and the separatists loyal to Russia, as the Prime Minister of Ukraine accused Moscow earlier that its seeking "to erase his country," stressing that there are still almost thousand Russian soldiers east of Ukraine in addition to the 20 thousand others on the border, as Moscow denies sending troops to Ukraine saying that the crowds stationed on the border are "volunteers."
- Australia’s S&P/ASX 200 ended 1.04% lower at 57.69 and is trading around 5473.45.
- Kospi closed 0.30% lower at 6.04 and is trading around 2035.82.
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