Asian markets make a soft start on European concern ( Jul-25-2012 09:11 Hrs IST )
The Asian markets have made another weak start with most the indices trading lower by about half-to-one percent. Japanese market was down by over a percent as the yen rose against all its major peers on concern Greece won’t meet its debt-reduction targets. There is some green tick on the Chinese market after the flash PMI data stated that nation's manufacturing output in July grew at its fastest pace in nine months. Meanwhile, it was reported that China will relax conditions for mainland firms, especially small and medium-sized enterprises, to list in Hong Kong. Also, the qualified Hong Kong financial institutions will be encouraged to form joint ventures with mainland partners.Shanghai Composite was up by 3.24 points or 0.15% to 2,149.83 and Taiwan Weighted added 4.75 points or 0.07% to 7,012.30.On the other hand, Hang Seng lost 30.02 points or 0.16% to 18,873.18, Jakarta Composite added 3.10 points or 0.08% to 3,989.60, KLSE Composite lost 1.55 points or 0.09% to 1,630.94, Nikkei 225 plunged by 85.17 points or 1.01% to 8,402.92 and Kospi Composite lost 14.14 points or 0.79% to 1,780.09.
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