Asian stocks eased as Federal Reserve tapering worries
overshadowed upbeat data out of China.
A non-manufacturing Purchasing Managers' Index in China rose to
56.3, the highest level this year in October, a government report
However, sentiment soured after Dallas Federal Reserve President
Richard Fisher suggested a rollback of the Fed's stimulus could
come sooner than expected, while speaking at a business lunch in
Sydney. In response to questions, he said that the risk of a
"fiscal blowup" wasn't part of the Fed's September decision to
leave its stimulus untouched, and nor would it be a consideration
in the future, the WSJ reports. He also reportedly said fiscal
risks shouldn't stop the Fed from doing what is right for the
Meanwhile, Australian retail sales rose a seasonally adjusted
0.8% during September, the statistics bureau said. The result
marked an improvement from August's 0.5% increase and beat
expectations for a 0.3% gain from a survey of economists by Reuters
and a 0.4% projected rise from a separate Dow Jones Newswires
Thai stocks fell amid political tensions over an amnesty bill,
with thousands of protesters hitting the streets in Bangkok. The
bill could clear corruption charges against former Prime Minister
Chinese real-estate developers fell after the China Securities
Journal reported that a property bubble poses danger to the economy
and that property controls should be combined with land and tax
policy reform to reduce risk.
Japan was closed for a holiday.
In ADR news, Woori Finance Holdings (
) missed Q3 expectations. It reported operating profits declined an
) reported Q3 profit of $5.1 billion
The Hang Seng ended down 0.26% at 23,189.62 and the Shanghai
composite index flat at 2,149.63.
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