Asian markets fall but declines mixed

<p>    Asian markets continued their falls today but the declines were mixed across the region. About five shares retreated for every one that gained […]</p>

 

 

Asian markets continued their falls today but the declines were mixed across the region.

About five shares retreated for every one that gained on MSCI’s Asia excluding Japan Index, helping the gauge to a 10 percent slump for the week. Japanese markets are shut for a holiday. South Korea’s Kospi Index sank 3.9%, Taiwan’s Taiex Index tumbled 2.9% and Hong Kong’s Hang Seng Index dropped 1.7%.

Australia was the regional bright spot, down 1.5% after trading flat briefly during early afternoon trading. Ratings agency S&P reaffirmed its AAA rating for the Australian federal government today and maintained a stable outlook.

Separately, in its September Financial Stability Review, Australia’s central bank said Australia’s banks have substantially strengthened their liquidity, funding and capital positions in recent years.

There were not too many brave traders holding unnecessary positions going in to the weekend. All eyes will be on U.S. markets when they resume trading tonight.

Futures signal the S&P 500 may rebound from yesterday’s 3.2% drop. The gauge has dropped 7.1% this week after the Federal Reserve said on Sept. 21 it saw “significant downside risks” in the economy.

 

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