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Asian markets conclude Friday’s trade mostly in green

13 Jun 2014 Evaluate

The Asian markets concluded Friday’s trade mostly in green, after China released data indicating that economic giant is slowly picking up speed. The Bank of Japan kept monetary policy steady and revised up its assessment on overseas economies, signaling confidence that the country can meet its price target without additional stimulus. The central bank voted unanimously to maintain its pledge of increasing base money, its key policy gauge, at an annual pace of 60-70 trillion yen ($590-$688 billion). Chinese Retail Sales rose to an annual rate of 12.5%, from 11.9% in the preceding month while Chinese Industrial Production rose to 8.8%, from 8.7% in the preceding month. Chinese Fixed Asset Investment fell to a seasonally adjusted 17.2%, from 17.3% in the preceding month. Japan’s industrial production fell to a seasonally adjusted -2.8%, from -2.5% in the preceding month. Singaporean Retail Sales fell to a seasonally adjusted -9.0%, from -3.8% in the preceding month whose figure was revised up from -3.9%.

Indonesia’s central bank lowered its growth forecast for the year but kept interest rates unchanged for a seventh straight month to 7.5%, underlining its emphasis on macroeconomic stability over growth. Bank Indonesia raised its benchmark rate by a total of 1.75% points between June and November 2013 to boost its currency, the rupiah, which slumped nearly 21% against the dollar last year as foreign investors fled on concern over Indonesia’s current-account deficit.

Asian Indices

Last Trade

Change in Points

Change in %

Shanghai Composite

2070.72

19.00

0.93

Hang Seng

23319.17

144.15

0.62

Jakarta Composite

4926.66

-7.74

-0.16

KLSE Composite

1876.74

2.87

0.15

Nikkei 225

15097.84

124.31

0.83

Straits Times

 3293.25

0.24

0.01

KOSPI Composite

1990.85

-20.80

-1.03

Taiwan Weighted

9196.39

-8.26

-0.09

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