The Asian markets concluded Tuesday’s trade mostly in green, while Japanese stocks dropped as yen held gains and insurers and consumer lenders retreated. China’s stocks rose, sending the benchmark index to a three-week high, before the release of inflation data scheduled tomorrow. Indonesia’s benchmark stocks gauge rose to a one-year high on speculation market favorite Joko Widodo will win tomorrow’s presidential election. Indonesia’s foreign exchange reserves increased 0.7% in June, thanks in part to the rise in the government’s oil and gas revenue and higher foreign-exchange term deposits at local banks. Reserves climbed to $107.7 billion at the end of June, from $107 billion a month earlier. Taiwanese CPI rose to a seasonally adjusted annual rate of 1.64%, from 1.61% in the preceding quarter.
Japan’s Economy Watchers Current Index rose to a seasonally adjusted 47.7, from 45.1 in the preceding month. Japan’s current account logged a higher-than-expected surplus in May, as the trade deficit narrowed due to a decline in imports. The surplus was 522.8 billion yen ($5.14 billion), more than the median forecast for a 403.6 billion yen surplus. It was the fourth consecutive month of surpluses. In April, the surplus was 187.4 billion yen. Exports rose 2% in May from a year ago, slower than a 6.2% annual gain in April. Imports fell an annual 0.4%, following a 6.6% annual increase in April. As a result, the trade deficit in May narrowed to 675.9 billion yen. Japan’s Current Account rose to a seasonally adjusted 0.38T, from 0.13T in the preceding month while Japan’s Bank Lending remained unchanged at a seasonally adjusted annual rate of 2.3% compared to the preceding quarter.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2064.02 | 4.09 | 0.20 |
Hang Seng | 23541.38 | 0.46 | 0.00 |
Jakarta Composite | 5024.71 | 35.68 | 0.72 |
KLSE Composite | 1892.65 | 0.15 | 0.01 |
Nikkei 225 | 15314.41 | -65.03 | -0.42 |
Straits Times | 3283.34 | -8.23 | -0.25 |
KOSPI Composite | 2006.66 | 1.54 | 0.08 |
Taiwan Weighted | 9530.98 | 10.78 | 0.11 |
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