The Asian markets concluded Wednesday’s trade mostly in green. The Bank of Japan held fire on expanding its stimulus program despite tepid industrial production data and a recent sales tax rise that have fanned fears over the strength of the country’s recovery. Bank of Japan policymakers lowered their expectations for the economy with fiscal year growth slated to come in at 1.1%, down from an earlier 1.4% forecast. The bank's semi-annual report, which gauges the median of BOJ members’ views, also expects core inflation for the year to March to be 1.3% matching an earlier forecast. Japan’s Average Cash Earnings rose to a seasonally adjusted 0.7%, from -0.1% in the preceding quarter whose figure was revised down from 0% while Japanese Housing Starts fell to a seasonally adjusted -2.9%, from 1.0% in the preceding quarter.
Indonesia’s proposed 2015 budget assumes economic growth of 5.5% to 6.3%, versus a 6% target this year. In the budget proposal to be sent to parliament, the government will set a year-end inflation rate target for 2015 at 3.5 to 5.5%. The inflation forecast is higher than Bank Indonesia’s target of around 3 to 4% next year. Singapore Unemployment Rate rose to 2.1%, from 1.8% in the preceding quarter. Thai Trade Balance fell to a seasonally adjusted 3.48B, from 3.90B in the preceding month.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2026.36 | 6.02 | 0.30 |
Hang Seng | 22133.97 | -319.92 | -1.42 |
Jakarta Composite | 4840.15 | 20.47 | 0.42 |
KLSE Composite | 1871.52 | 12.18 | 0.66 |
Nikkei 225 | 14304.11 | 15.88 | 0.11 |
Straits Times | 3264.71 | 26.97 | 0.83 |
KOSPI Composite | 1961.79 | -2.98 | -0.15 |
Taiwan Weighted | 8791.44 | -80.67 | -0.91 |
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