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Asian markets end mostly in green on Thursday

10 Jul 2014 Evaluate

The Asian markets concluded Thursday’s trade in green, with Indonesian stocks rising to a one-year high and the rupiah touching the strongest level in seven weeks after Joko Widodo stated that unofficial counts at polling booths showed him winning presidential race. The Confidence among China’s bankcard owners climbed in the past month due to relatively strong travel demand. The Bankcard Consumer Confidence Index climbed 0.56 in June from a month ago to 85.27 points as expenditures on dining, entertainment and travel picked up ahead of the summer. Chinese Trade Balance fell to 31.60B, from 35.92B in the preceding month.

Bank of Korea, South Korea’s central bank, downgraded its 2014 growth outlook to 3.8% from an earlier forecast of 4%, citing the delayed recovery of consumer sentiment caused by the deadly ferry disaster. The BOK froze its benchmark interest rate for 14 straight months in July, but it was not a unanimous decision. The top central banker made dovish comments due to worries about the delayed recovery. The BOK raised concern that downside risks prevailed over the upside risks in the economy’s future growth path, citing the prolonged weakening of sentiment among consumers and companies as well as rising volatility in the won/dollar exchange rate. 

Japanese Household Confidence rose to a seasonally adjusted annual rate of 41.1, from 39.3 in the preceding month while Japan’s Core Machinery Orders fell to -19.5%, compared to -9.1% in the preceding month. Japan’s Corporate Goods Price Index rose to a seasonally adjusted annual rate of 4.6%, from 4.4% in the preceding month. Japanese tertiary industry activity index rose to a seasonally adjusted 0.9%, from -5.4% in the preceding month. Malaysian Industrial Production rose to a seasonally adjusted annual rate of 6.0%, from 4.2% in the preceding month. Philippines Industrial Production rose to a seasonally adjusted annual rate of 13.8%, from 12.9% in the preceding month whose figure was revised up from 12.8%.

Asian Indices

Last Trade

Change in Points

Change in %

Shanghai Composite

2038.34

-0.27

-0.01

Hang Seng

23238.99

62.92

0.27

Jakarta Composite

5098.01

73.30

1.46

KLSE Composite

1892.62

1.46

0.08

Nikkei 225

15216.47

-86.18

-0.56

Straits Times

 3269.50

-5.96

-0.18

KOSPI Composite

2002.84

2.34

0.12

Taiwan Weighted

9565.12

75.14

0.79

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