Japanese core machinery orders fell 3.6% in July, missing the 3.7% increase forecast. While China reported CPI rose 2% in August from a year earlier, exceeding the estimate of 1.8%. However, PPI data recorded a decline in the 42nd consecutive month, falling 5.9% in the last month.
Japan's Nikkei 225 index failed to continue the spectacular rally the previous day and had dropped 2.5%, after the shock core machinery orders data added to concerns about the 2nd largest economy in Asia. Negative performance is mostly seen in the energy sector, telecommunications and consumer needs. Some profit taking also weighed on financial stocks, with Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group each lost more than 2%.
In China, the decline in commodity producer stocks dragged the Shanghai Composite Index fell 1.5%, with investors tend to ignore the Prime Minister Li Keqiang statement confirming if China is not at risk of a hard lannding. Hang Seng index also fell more than 2%, the brokerage stocks led the decline, as China's campaign to end the fall of equities pushed investors away from the brokerage industry. This sector was also hit by the decline in volume following the steps of a regulator restrict speculative trading.
While South Korean KOSPI index is able to reverse direction at the end of the session to close 1.4% higher at its highest level since August 18, supported by the strong performance of the stock manufacturers ship. Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering each recorded gains of about 9% and 7%. Most blue-chip components are also turned positive, with Kepco and Posco rose respectively 3.4% and 1%. But the largest capitalization stocks in the stock South Korea, Samsung Electronics was observed a loss of 1.1%.
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