Epic Research Update : Asian Markets

Asian stock markets fell at the open on Friday, on the back of declines in offshore markets and a continued slump in commodities.

China’s benchmark Shanghai Composite index edged up 0.3 percent, staying on course to extend a six-session winning streak, even as the preliminary China Caixin PMI fell to 48.2, well below the 49.7 forecast from a Reuters poll and the 50-mark separating growth from contraction.

In Hong Kong, the Hang Seng Index dropped 0.7 percent.

Japan’s Nikkei 225 tracked the negative leads beyond Asia to reverse Thursday’s gains.

South Korea’s Kospi index touched an eight-day low, but the won recovered from a two-year low to trade at 1,159.9 against the greenback. Earlier at the open, the local currency hit 1,162.1 — its lowest level since June 2013.

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Posted in: Indian Market Tips