The Asian markets concluded Wednesday’s trade mostly in green, with Hong Kong shares ending lower as profit-takers moved in after a healthy two-day rally. The traders in the region remained concerned with the World Bank cutting its global growth forecast amid weaker outlooks for the US, Russia and China, while calling on emerging markets to strengthen their economies before the Federal Reserve raises interest rates. The bank’s report showed that China’s expansion was lowered to 7.6% growth from 7.7%. Beijing’s own target for this year is 7.5%. China’s consumer prices hit a four-month high in May, but inflationary outlook remains mild, leaving room for more policy easing. The Consumer Price Index, the main gauge of inflation, expanded 2.5% from a year earlier last month, up from April’s 1.8% increase.
Japan’s Business Index Survey of large manufacturing conditions fell to a seasonally adjusted annual rate of -13.9, from 12.5 in the preceding quarter while Japan’s Corporate Goods Price Index rose to a seasonally adjusted annual rate of 4.4%, from 4.1% in the preceding month. Malaysian Industrial Production fell to a seasonally adjusted annual rate of 4.2%, from 4.3% in the preceding month.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2054.95 | 2.42 | 0.12 |
Hang Seng | 23257.29 | -58.45 | -0.25 |
Jakarta Composite | 4971.95 | 25.86 | 0.52 |
KLSE Composite | 1878.38 | 1.77 | 0.09 |
Nikkei 225 | 15069.48 | 74.68 | 0.50 |
Straits Times | 3290.04 | -3.78 | -0.11 |
KOSPI Composite | 2014.67 | 2.87 | 0.14 |
Taiwan Weighted | 9229.80 | 7.43 | 0.08 |