Asian indexes decreased after the good data from USA

Asian marketsThe stock markets in Asia reported declines in the last session of the week, when the indications for strengthening the US economy raised concerns that the Fed may begin gradually restrict their purchases of bonds. Preliminary data for US growth in the third quarter showed an increase in gross domestic product (GDP) by 2.8%. The result exceeded the quarter as reported earlier 2.5%, and experts forecast growth of 2%. The markets reacted negatively to the data in order to return investors’ fears that the US central bank may reduce the 85 billion year monthly bond purchases at its meeting in December. The Japanese benchmark Nikkei 225 stock average lost 1%, while the yen fell against the dollar to a level of 98.12. The Australian S&P/ASX 200 fell 0.4%, while South Korean Kospi lost 1%.
Fed outlook reduce incentives to lead to massive sales in the summer, which provokes substantial declines in the purchasing power of some of the leading Asian currencies. The following US economic data that market participants look forward to on Friday are those of the labor market in October. Among the countries of Southeast Asia that were hardest hit by the latest wave of selling, Philippine PSE Composite Index fell 1.3%, while in Indonesia JSX lost 0.2%.
The Hong Kong’s Hang Seng fell 0.6%, while the benchmark Shanghai Composite erased 2.9%.
Published earlier in the day data showed that Chinese trade surplus widened in October, sending another signal to the markets that the growth of the economy has stabilized. The exports to the second largest economy in the world has increased by 5.6% yoy in the tenth month after the unexpected fall of 0.3% in September. Meanwhile, import growth remained strong in October, rising slightly above expectations of 7.6%. Thus, the total trade surplus of China rose to 31.1 billion USD from 15.2 billion for the month earlier. The result exceeded market forecasts of an increase to 24.28 billion USD.
However, the data had little impact on the market because they were overshadowed by news from the US. However, market participants remained focused on the upcoming weekend summit of the government in Beijing, or the so-called Third Plenum of the Communist Party. It is expected the new leadership of the party to present its plans for economic development in the next ten years. Listed on the Hong Kong shares of China Cosco Holdings Co fell 5.6%. The largest shipping company in China, announced that one of its executive directors is under investigation for abuse by local authorities. Meanwhile, one of the strongest typhoons in Asia this year hit the Philippines on Friday. Disaster provoked activation of numerous landslides and cut off the power in large parts of the country. Late last storm took the lives of four people.
Nearly 720,000 people were evacuated. Among them are thousands of Bohol, who last month was hit by an earthquake measuring 7.2 on the Richter scale.

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