The Asian markets concluded Tuesday’s trade mostly in green, with the regional index heading for a six-year high, driven by a rally in Japanese stocks after the Bank of Japan released its quarterly tankan business survey result. Although the survey showed deterioration in business sentiment following the recent sales tax increase, the market focused on data showing that large companies raised their combined investment plans for the financial year ending March to a 7.4% increase from a previous 0.1% rise forecast in the March survey. Japan’s Average Cash Earnings rose to a seasonally adjusted 0.8%, from 0.7% in the preceding quarter whose figure was revised down from 0.9%. Hang Seng was closed on account of Hong Kong Special Administrative Region Establishment Day.
China’s manufacturing expanded in June at the fastest pace this year. The Purchasing Managers’ Index was at 51, as per the National Bureau of Statistics and China Federation of Logistics and Purchasing. The final reading of a purchasing managers’ index from HSBC Holdings Plc and Markit Economics rose to 50.7 in June from 49.4 in May. South Korean Trade Balance fell to a seasonally adjusted 5.29B, from 5.30B in the preceding quarter. Thai CPI fell to a seasonally adjusted annual rate of 2.35%, from 2.62% in the preceding month. Indonesian Trade Balance rose to a seasonally adjusted 0.07B, from -1.97B in the preceding month while Indonesian Inflation fell to a seasonally adjusted 6.70%, from 7.32% in the preceding month.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2050.38 | 2.05 | 0.10 |
Hang Seng | - | - | - |
Jakarta Composite | 4884.83 | 6.24 | 0.13 |
KLSE Composite | 1879.12 | -3.59 | -0.19 |
Nikkei 225 | 15326.20 | 164.10 | 1.08 |
Straits Times | 3242.64 | -13.03 | -0.40 |
KOSPI Composite | 1999.00 | -3.21 | -0.16 |
Taiwan Weighted | 9441.92 | 48.85 | 0.52 |
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