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Thursday, August 27, 2015, Bhadra 12, 1422 BS, Zilqad 11, 1436 Hijr


Asian shares see-saw as China rate cut fails to spark rally
Published :Thursday, 27 August, 2015,  Time : 12:00 AM  View Count : 25

TOKYO, Aug 26: Shares were mostly lower in Asia on Wednesday, after a move by China to cut its key interest rate failed to spark a sustained rally on Wall Street. Investors looked set for another white-knuckle day as Chinese, Hong Kong and Japan shares bobbled in and out of negative territory.
Japan's main Nikkei 225 stock index gained 0.3 per cent to 17,860.90, while Hong Kong's Hang Seng index was up and down, losing 0.3 per cent to 21,337.62. China's benchmark Shanghai Composite Index - source of much angst through these days of volatility - fell 1.8 per cent to 2,910.97. Australian shares fell 0.1 per cent to 5,131.30 and shares in New Zealand, Taiwan and Southeast Asia were mostly lower.
"Asia remains the epicenter of the current market instability," Evan Lucas of IG said in a market commentary, noting that fears of a reoccurrence of past crises may be overblown due to today's stronger financial systems and currency reserves across the region.    ?AP










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