The Asian markets concluded Friday’s trade mostly in red, as signs of financial stress in Portugal raised concerns that euro-area recovery remains fragile. China’s stocks rose, paring the benchmark index’s losses for the week; on speculation local governments are loosening property curbs to prevent economic growth from slowing further. Hong Kong stocks fell, with the city’s benchmark index capping its biggest weekly decline in two months. Japanese Economics Minister Akira Amari warned that it would be premature for the Bank of Japan to consider an exit strategy from its massive stimulus program, voicing hope instead for further monetary easing if achievement of its inflation goal falls behind schedule. Amari enlightened that while Japan appears to be emerging from years of persistent price declines, it was too early to formally declare a sustained end to deflation with the economic recovery still vulnerable to external shocks.
Indonesian stocks fell the most in six weeks and the rupiah snapped a four-day rally on concern investments will be delayed until a clear winner emerges from the nation’s disputed presidential election. Foreign investors pumped $362 million into Indonesian equities yesterday, the biggest inflow since March, on optimism Widodo will replicate nationally the success he had as Jakarta governor in cutting red tape and boosting tax revenue. Indonesia’s central bank held its benchmark interest rate at 7.5% for an eighth consecutive meeting, maintaining a tight policy setting to help narrow the current-account shortfall that it estimates widened to near a record last quarter.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2046.96 | 8.62 | 0.42 |
Hang Seng | 23233.45 | -5.54 | -0.02 |
Jakarta Composite | 5032.60 | -65.41 | -1.28 |
KLSE Composite | 1883.15 | -9.47 | -0.50 |
Nikkei 225 | 15164.04 | -52.43 | -0.34 |
Straits Times | 3293.73 | 24.23 | 0.74 |
KOSPI Composite | 1988.74 | -14.10 | -0.70 |
Taiwan Weighted | 9495.84 | -69.28 | -0.72 |
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