The Asian markets concluded Friday’s trade mostly in red, with Nikkei ending slightly lower as investors tended to lock in gains from recent surges, despite optimism over the global economy. Moody’s Investors Service stated that the prolonged effects of China’s property market slowdown could hurt economic growth, but reforms to balance the economy will offset the negative impact. China’s gross domestic product growth may slow to 5-6 percent from 7-7.5 percent this year if property sales and building construction both fall by 10%. Indonesia’s outgoing finance minister stated that the next president will need to discard election rhetoric and focus on raising fuel prices and luring foreign investment to address the budget and current- account deficits. Southeast Asia’s biggest economy is struggling to contain a persistent current-account deficit that helped make the rupiah Asia’s worst performer last year, while ballooning fuel subsidy costs have increased the 2014 budget shortfall and forced a reduction in state spending. Japan’s All Industries Activity Index fell to a seasonally adjusted -4.3%, from 1.5% in the preceding month.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2026.67 | 2.94 | 0.15 |
Hang Seng | 23194.06 | 26.33 | 0.11 |
Jakarta Composite | 4847.70 | -16.57 | -0.34 |
KLSE Composite | 1885.72 | 4.24 | 0.23 |
Nikkei 225 | 15349.42 | -11.74 | -0.08 |
Straits Times | 3258.80 | -10.22 | -0.31 |
KOSPI Composite | 1968.07 | -23.96 | -1.20 |
Taiwan Weighted | 9273.79 | -43.02 | -0.46 |
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