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- Asian Stocks close: most stocks closed lower as the IMF's economic growth cut weighed on markets
Asian Stocks close: most stocks closed lower as the IMF's economic growth cut weighed on markets
Most Asian stock indices closed lower as the IMF's economic growth cut weighed on markets. The International Monetary Fund (IMF) cut its forecast for global economic growth to 3.3% in 2014, down from a previous forecast of 3.4%. 2015 forecast was lowered to 3.8%, down from a previous forecast of 4.0%.
Chinese HSBC services purchasing managers' index fell to 53.5 in September from 54.1 in August.
Japan's economy watchers' current conditions index remained unchanged at 47.4 in September, missing expectations for an increase to 48.2.
Japan's economy watchers' future conditions index dropped to 48.7 in September from 50.4 in August.
Japan's current account surplus rose to 130.8 billion yen in August from 99.3 billion yen in July, missing expectations for a rise to 190 billion yen.
Indexes on the close:
Nikkei 225 15,595.98 -187.85 -1.19%
Hang Seng 23,263.33 -159.19 -0.68%
Shanghai Composite 2,382.79 +18.92 +0.80%
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