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Asian markets trade almost flat; Shenzhen index rises 1%

In Japan, the Nikkei 225 slipped 0.15% while the Topix index dipped 0.28%.

October 13, 2021 11:04 IST | India Infoline News Service
Asian stock markets were trading in a mixed zone on Wednesday with the Shenzhen Component rose 1.09%. In Japan, the Nikkei 225 slipped 0.15% while the Topix index dipped 0.28%.

Mainland Chinese stocks were mixed, with the Shanghai Composite marginally higher by 0.23%. Elsewhere, South Korea’s Kospi advanced 0.91%, Australian stocks were also in negative territory as the S&P/ASX 200 dipped 0.04%.

Trading in Hong Kong is set to be cancelled on Wednesday because of severe weather due to Typhoon Kompasu, with the Hong Kong Observatory issuing an alert that the “Storm Signal No. 8” is set to remain in force up to 4 p.m.

Overnight stateside, the Dow Jones Industrial Average fell 117.72 points to 34,378.34, the S&P 500 declined 0.24% to 4,350.65 and the Nasdaq Composite shed 0.14% to around 14,465.93.

US market contracted for the third consecutive day in a choppy trading day ahead of crucial inflation data and September quarter earnings.

Meanwhile, IMF yesterday has cut the USA growth forecast by 1% to 6% for 2021 and by 0.3% to 5.2% for 2022, while world economy growth was cut modestly by 0.1% to 5.9% for 2021 and unchanged at 4.9% for 2022. CPI print and FOMC meeting minutes would be published tonight, which will be in focus.

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