The Asian markets concluded Tuesday’s trade in green, as investors awaited testimony from Federal Reserve Chair Janet Yellen later in the trading day. Malaysian Stock Exchange was closed today on account of ‘Malaysia - Nuzul Al-Quran’ holiday. China’s stocks rose for a third day after the nation’s broader measure of credit topped estimates, overshadowing concern new share sales will divert funds from existing equities. Beijing stepped up efforts to re-energize China’s economy in June and avert a sharper slowdown, pumping more money into the system and pressing banks to extend more loans. Chinese banks, which are used by Beijing as a policy tool, made a much stronger-than expected 1.08 trillion yuan ($173.9 billion) of new yuan loans in June, nearly 20% more than market expectations. Broad M2 money supply jumped 14.7% last month from a year earlier - the highest in 10 months.
The Bank of Japan board decided by a unanimous vote to leave the bank’s policy target unchanged as expected at its two-day monthly meeting, maintaining its medium-term recovery scenario as the drag from the April sales tax hike is easing. The BoJ will continue to increase its purchases of Japanese government bonds at an annual pace of about 50 trillion yen. The central bank also trimmed its growth forecast to 1% for the current financial year ending in March, compared with the previous forecast of a 1.1% expansion. Singaporean Retail Sales rose to a seasonally adjusted -6.0%, from -9.0% in the preceding month.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2070.36 | 3.71 | 0.18 |
Hang Seng | 23459.96 | 113.29 | 0.49 |
Jakarta Composite | 5070.82 | 49.76 | 0.99 |
KLSE Composite | - | - | - |
Nikkei 225 | 15395.16 | 98.34 | 0.64 |
Straits Times | 3291.42 | 0.44 | 0.01 |
KOSPI Composite | 2012.72 | 18.84 | 0.94 |
Taiwan Weighted | 9569.17 | 48.87 | 0.51 |
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