Wednesday, 19 August 2015

Asian Market Update : Epic Research Malaysia

Asian shares were mixed on Wednesday, with Shanghai continuing a sharp sell-off on concerns the world's number two economy is slowing and as investors awaited clues for the timing of a US interest rate rise.

Sydney rose 1.33 per cent in early trading while Seoul dropped 1.10 per cent.

Tokyo fell 0.45 per cent after news Japan's trade deficit fell a less-than-expected 72.3 per cent year-on-year in July due to falling energy costs and a pick-up in exports.

Hong Kong rose 0.25 per cent but Shanghai dropped 1.87 per cent, continuing its downward trajectory the day after China's benchmark share index suffered its steepest fall in three weeks.

"Market sentiment is likely to be influenced by what happens on the Chinese exchanges today," Ric Spooner, chief market analyst at CMC Markets in Sydney, told Bloomberg News.

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