The Asian markets concluded Wednesday’s trade in green, with the indices extending gains from a six-year high. Hong Kong stocks rose, with the benchmark index advancing to its highest close this year, after data showed China’s factory activity expanded at the fastest pace since December. The Hong Kong Monetary Authority, the city’s central bank, stepped in for the first time since December 2012 to prevent the city’s currency from rising against the US dollar, as demand rose on commercial activities. China’s stocks rose for a third day, capping the longest winning streak in three weeks, amid signs government efforts to arrest a slowdown are helping to stabilize the economy. South Korean CPI remained unchanged at a seasonally adjusted annual rate of 1.7%.
Indonesia’s trade balance has swung to a surplus in May, while inflation slowed in June, bolstering Bank Indonesia’s case for keeping its benchmark interest rate steady next week. The country recorded a trade surplus of $69.9 million in May, following a record deficit of $1.97 billion in April, as exports picked up and imports slowed. The consumer price index also eased to 6.7% last month from 7.3% in May. Last month’s inflation rate was the lowest since June 2013, when it stood at 5.9%.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2059.42 | 9.04 | 0.44 |
Hang Seng | 23549.62 | 358.90 | 1.55 |
Jakarta Composite | 4908.27 | 23.45 | 0.48 |
KLSE Composite | 1886.84 | 7.72 | 0.41 |
Nikkei 225 | 15369.97 | 43.77 | 0.29 |
Straits Times | 3263.91 | 21.27 | 0.66 |
KOSPI Composite | 2015.28 | 16.28 | 0.81 |
Taiwan Weighted | 9484.96 | 43.04 | 0.46 |
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