# Asia Markets Outlook



## CFDTrading (9 October 2008)

*Asia Markets Outlook*

*Asia Session Key Developments*
*
• Australian Service Sector Shrinks Again in September
• TD Securities Inflation Rises, but RBA Rate Interest Cuts to Continue*
*
Asian Markets Down as US Lawmakers Prepare to Vote on Rescue Plan Again*

Asian shares lost ground on Friday as fears of the spreading economic slowdown and substantial event risk loom over markets. Volumes were low as investors were cautious ahead of the repeat vote on the US financial markets rescue plan and the NFP report.

Nikkei 225 10938.14 -216.62 -1.94%
Japanese shares closed at the lowest in 3 years as investors are increasingly skeptical of Japan’s ability to remain afloat in the face of slowing demand from its top 3 trading partners in the US, China and Europe. Underscoring the trend, Toyota fell to a 3-year low while Nissan sank to the worst in 7 years as US auto sales plunged 26% in September. The world’s second-largest economy is heavily export-dependent, and the expanding global slowdown will wreck more havoc here than economies more reliant on domestic demand.

Hang Seng 17682.40 -528.71 2.90%
Hong Kong’s benchmark index was under heavy selling pressure in Friday trading. Energy issues were hit hard by sharply lower oil prices while lender Hang Seng Bank slid 5.9% as investors punished the institution for its exposure to failed US mortgage firm Washington Mutual. Loses were somewhat offset as Trading volumes were low ahead of the US rescue plan vote.

S&P/ASX 200 4695.40 -65.70 -1.38%
Sydney shares traded lower in Friday’s session as investors were leery of the pending US House of Representatives vote on the now $850 billion financial market rescue package. A TD Securities report showing inflation rose to 4.5%in September for the 12th consecutive month did not help, especially with the RBA meeting as soon as next week.


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## noirua (9 October 2008)

CFDTrading said:


> *Asia Markets Outlook*
> 
> *Asia Session Key Developments*
> *
> ...



About 7 years ago the Hong Kong government stepped in and bought stock to hold up the benchmark index. I haven't seen any announcements, this time, so far.


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