The Asian markets concluded Thursday’s trade mostly in green, following a positive reaction to the minutes of the Federal Reserve's April meeting. An index measuring manufacturing activity in Japan touched a two-month high, coming in at a seasonally adjusted score of 49.9 in May, that’s up from 49.4 in April, although it remains just below the mark of 50 that separates expansion from contraction. Moody’s Investors Service revised its outlook for China’s property market to negative from stable as it sees growth in home sales to slow notably, high inventory levels and weakening liquidity over the next 12 months. Separately, Shanghai expects a notable drop in new home supply in June as fewer residential projects will release units for sale. About 35 new residential developments, comprising 29 apartment projects and the rest villa developments, are set to launch locally next month, a monthly drop of 41.7% or an annual decline of 25.5%. China added 4.73 million jobs in the first four months of 2014, slightly more than the number created in the same period of last year. At the end of March, the country’s registered urban jobless rate was 4.08%. The rate was 0.03% higher than at the end of last year, but it was still considered to be a relatively low level.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2021.29 | -3.67 | -0.18 |
Hang Seng | 22953.76 | 117.24 | 0.51 |
Jakarta Composite | 4969.88 | 59.59 | 1.21 |
KLSE Composite | 1875.12 | -1.91 | -0.10 |
Nikkei 225 | 14337.79 | 295.62 | 2.11 |
Straits Times | 3265.66 | 3.88 | 0.12 |
KOSPI Composite | 2015.59 | 7.26 | 0.36 |
Taiwan Weighted | 8969.63 | 107.21 | 1.21 |
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