The Asian markets concluded Wednesday’s trade in red, as escalating violence in the Middle East sapped demand for riskier assets. Japan’s Prime Minister Shinzo Abe stated that the deflation that wiped out much of Japan’s growth the past 15 years and so stunted the economy that it slipped to number three behind China, has ended and will be thwarted by new government policies designed to encourage business expansion. The government plans corporate-tax cuts, trade liberalization, reduced barriers for agricultural land consolidation, special zones of lighter regulation and the study of casinos as a way of spurring record numbers of tourists. The steps are part of Abe’s strategy to restore Japan’s influence in a region where China is the dominant power. Japan’s corporate services price index (CSPI) rose to a seasonally adjusted annual rate of 3.6%, from 3.4% in the preceding month. South Korean Consumer Confidence rose to 107, from 105 in the preceding month.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2025.50 | -8.43 | -0.41 |
Hang Seng | 22866.70 | -13.94 | -0.06 |
Jakarta Composite | 4838.98 | -23.26 | -0.48 |
KLSE Composite | 1889.55 | -2.78 | -0.15 |
Nikkei 225 | 15266.61 | -109.63 | -0.71 |
Straits Times | 3261.54 | -0.49 | -0.02 |
KOSPI Composite | 1981.77 | -12.58 | -0.63 |
Taiwan Weighted | 9242.16 | -4.04 | -0.04 |