28th August 2014
Stock markets across Asia drifted lower today (August 28th), with the lack of any real trading stimulus causing investors to consider easing their positions.
Activity has been muted ahead of the US Labor Day holiday on Monday, which generally signifies the end of the summer in the northern hemisphere and heralds the autumn season that is usually much busier for markets.
As a result, MSCI's broadest index of Asia-Pacific shares, excluding Japan, remained little-changed around its highest level since early 2008.
However, the Nikkei 225 index declined by 0.48 per cent to 15,459.86 points in Tokyo. This came as investors sought to book profits on the Japanese market's recent rally, which has seen it gain 4.5 per cent since August 8th.
In Hong Kong, the Hang Seng slumped by 0.71 per cent, while the Shanghai Composite closed 0.62 per cent lower as fresh data again raised the issue of the fragile real estate market in the mainland.
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