The Asian markets concluded Thursday’s trade mixed, after the Federal Reserve stated that interest rates will remain low for some time as US growth rebounds, and Premier Li Keqiang pledged to meet China’s target for economic expansion. The minutes from the Bank of Japan’s May board meeting released showed that Japanese exports face headwinds with the political crisis in Thailand, a key supply chain hub, hurting business and acting as an economic drag. Japan’s All Industries Activity Index fell to a seasonally adjusted -4.3%, from 1.5% in the preceding month. The BoJ decided by a unanimous vote to leave the policy target unchanged as expected.
Japan’s exports in May suffered their first annual decline in 15 months as external demand remained soft despite a recovery in advance economies, suggesting a bumpy ride for the world’s third-largest economy. Exports fell 2.7% in the year to May, compared with a 1.2% drop seen by economists and a 5.1% rise in April. On a seasonally adjusted basis, exports fell 1.2% percent in May from the prior month.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2023.74 | -31.78 | -1.55 |
Hang Seng | 23167.73 | -13.99 | -0.06 |
Jakarta Composite | 4864.27 | -23.59 | -0.48 |
KLSE Composite | 1881.48 | 4.90 | 0.26 |
Nikkei 225 | 15361.16 | 245.36 | 1.62 |
Straits Times | 3269.02 | -7.78 | -0.24 |
KOSPI Composite | 1992.03 | 2.54 | 0.13 |
Taiwan Weighted | 9316.81 | 36.88 | 0.40 |