Asian markets closed lower on the final trading of the week. Rising political uncertainties in the US as we approach the fourth day of the government shutdown has made investors more jittery about the markets and no one certainly wants to take excessive risk over the weekend. The circumstances are becoming more worrying as we approach towards the US debt ceiling and President Barack Obama’s comment in which he addressed that Wall Street should be more concerned about this government shutdown has sent the alarm bells ringing.
The Nikkei index was the worst performer during the session and it closed lower with a loss of 0.94%. The index is down nearly by 5.24% in the past 5 days. The Hang Seng index was the second worst index during the session and it dropped nearly 0.39%. However, Shanghai index was able to close up with a gain of 0.69%.
China mobile, the country’s largest mobile career dropped nearly 2% after mainland news media reported that the carrier’s interconnection fees paid by others could be cut by half. Shares of Panasonic Corp and Sony Corp dropped nearly 3% due to ping-pong action of the Yen.
European stock markets are also trading lower during the early hours of trading. The FTSE 100 index is the worst performing index during the session which is trading lower with a loss of 0.26%. The index is down by nearly 1.76% for the past five days. The DAX index is the second worst performer and is also trading down with a loss of 0.16%. The CAC 40 and the FTSE MIB are trading higher with a gain of 0.10%, and 0.24% respectively.