The Asian markets concluded Friday’s trade mostly in red, due to concerns about China’s economy as well as tensions over the Ukraine crisis. Thailand’s sovereign bonds, Asia’s best performers over the past six months is seen faltering as a political stalemate slows growth and risks triggering a credit-rating downgrade. The economy could contract this year if the political standoff persists late into 2014. Support for Indonesia’s rupiah, this month’s worst-performing Asian currency, is building as the nation’s assets attract funds from abroad and trading patterns suggest its decline is overdone. Singaporean Industrial Production fell to an annual rate of 12.1%, from 13.1% in the preceding month whose figure was revised up from 12.8%. South Korean GDP rose to a seasonally adjusted 0.9%.
Japan’s National Core CPI remained unchanged at a seasonally adjusted 1.3%, from 1.3% in the preceding month. Tokyo’s inflation jumped to a 22-year high in April by a key measure, an early sign that companies are making progress in passing on a new tax increase to customers as policy makers seek to pull Japan out of years of deflation. Tokyo’s core CPI, which excludes fresh food costs rose to at an annualized rate of 2.7%, from 1.0% in the preceding month. This underscores the daunting challenge for Prime Minister Shinzo Abe and the Bank of Japan in generating a positive cycle of prices, wages and spending.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2036.52 | -20.51 | -1.00 |
Hang Seng | 22223.53 | -339.27 | -1.50 |
Jakarta Composite | 4897.64 | 6.56 | 0.13 |
KLSE Composite | 1860.98 | -4.30 | -0.23 |
Nikkei 225 | 14429.26 | 24.27 | 0.17 |
Straits Times | 3267.57 | -16.36 | -0.50 |
KOSPI Composite | 1971.66 | -26.68 | -1.34 |
Taiwan Weighted | 8774.12 | -171.33 | -1.92 |
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