The Asian markets concluded Wednesday’s trade mostly in green, with the regional benchmark index extending a six-year high, as US inflation data damped concerns interest-rate increases will be brought forward. Chinese stocks rallied on speculation that government is accelerating measures to support the housing market. Indonesia’s rupiah jumped to a two-month high and stocks advanced after Joko Widodo was named the nation’s next president. Widodo, known as Jokowi, garnered 53.15% of support at the July 9 vote, while Prabowo won 46.85%. In addition to the rupiah, Asian currencies mostly pushed higher, including currencies such as the Malaysian ringgit and the Philippine peso. Chinese consumer confidence climbed to 111 points from a year ago in the second quarter, with spending continuing to grow due to increasing disposable income. The China Consumer Confidence Index has remained stable at 111 points for the third consecutive month, with the country’s shift from investment to consumption driving intentions to spend upward. In the three months, ending on June 30, Chinese consumers’ willingness to spend reached 46%, 2% points higher than in the previous quarter. Taiwanese Industrial Production rose to a seasonally adjusted annual rate of 8.63%, from 5.19% in the preceding month.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2078.49 | 3.01 | 0.14 |
Hang Seng | 23971.87 | 189.76 | 0.80 |
Jakarta Composite | 5093.23 | 9.71 | 0.19 |
KLSE Composite | 1871.83 | 0.47 | 0.03 |
Nikkei 225 | 15328.56 | -14.72 | -0.10 |
Straits Times | 3340.70 | 23.79 | 0.72 |
KOSPI Composite | 2028.32 | -0.61 | -0.03 |
Taiwan Weighted | 9499.36 | 58.39 | 0.62 |