The Asian markets concluded Wednesday’s trade mostly in green, as China reported industrial profits and US data added to signs a recovery in the world’s largest economy is intact. Profits earned by Chinese industrial firms rose 9.6% in April to 468.6 billion yuan ($75 billion) from a year earlier, slower than the annual growth of 10.7% in March. For the first four months of 2014, profits rose 10% to 1.8 trillion yuan, little changed from the 10.1% for the first quarter. Consumer confidence in China in the first quarter climbed 3 points from a year ago but remained at the same level as in the prior three-month period. The Chinese Consumer Confidence Index stood at 111 points in the first quarter, higher than the global average of 96, boosted by healthy growth of disposable income for both rural and urban residents. Land sales in Shanghai registered their feeblest showing in 26 months in May, with only two parcels hitting the market. Excluding plots designated for public purposes, the area of sites sold dropped 90% from April to 35,000 square meters, with the aggregate value of sales falling 51% to 3.24 billion yuan ($519 million). Thai Industrial Production rose to a seasonally adjusted -3.9%, from -10.4% in the preceding month.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2050.23 | 15.66 | 0.77 |
Hang Seng | 23080.03 | 135.73 | 0.59 |
Jakarta Composite | 4985.58 | 21.65 | 0.44 |
KLSE Composite | 1871.66 | 4.09 | 0.22 |
Nikkei 225 | 14670.95 | 34.43 | 0.24 |
Straits Times | 3271.84 | -2.22 | -0.07 |
KOSPI Composite | 2017.06 | 19.43 | 0.97 |
Taiwan Weighted | 9121.71 | 66.42 | 0.73 |