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Asian markets end mostly in red on Friday

08 Aug 2014 Evaluate

Asian equity indices ended mostly in red on Friday, as US President Barack Obama authorized air strikes in Iraq. China’s buoyant exports pushed its trade surplus to a record in July, fuelling optimism global demand will help counter pressure on the domestic economy from a weakening property sector. Chinese Trade Balance rose to 47.30B, from 31.60B in the preceding month. Exports in July jumped 14.5% from a year earlier - the fastest pace in 15 months, doubling from 7.2% in June and roundly beating market expectations. While manufacturing appears to have picked up in the world’s second-largest economy, unexpected weakness in the services sector this week has renewed concerns about the growth outlook. The weak housing market remains China’s biggest risk, posing a drag on the broader economy and investor confidence.

The Bank of Japan maintained record stimulus after recent production and export data highlighted weakness that could challenge Governor Haruhiko Kuroda’s push to stoke faster inflation. The central bank stuck with a pledge to increase the monetary base at an annual pace of 60 trillion yen to 70 trillion yen ($687 billion). Japan’s Economy Watchers Current Index rose to a seasonally adjusted 51.3, from 47.7 in the preceding month. Japan’s Current Account rose to a seasonally adjusted 0.13T.

Asian Indices

Last Trade

Change in Points

Change in %

Shanghai Composite

2194.43

6.76

0.31

Hang Seng

24331.41

-56.15

-0.23

Jakarta Composite

5053.76

-13.22

-0.26

KLSE Composite

1839.87

-27.45

-1.47

Nikkei 225

14778.37

-454.00

-2.98

Straits Times

 3288.89

-25.33

-0.76

KOSPI Composite

2031.10

-23.41

-1.14

Taiwan Weighted

9085.96

-45.48

-0.50

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