Asian equity indices ended mostly in green on Tuesday, with the regional benchmark measure extending gains after capping the biggest daily rally in almost two months, amid optimism that geopolitical risks are receding. Indonesia may consider cutting public stakes in banks and imposing lending quotas in an effort to channel more credit to industry, as policy makers prepare reform proposals for incoming President Joko Widodo. Economic growth eased to the slowest since 2009 in the three months ended June 30, as exports and government spending fell, underscoring the challenge to Jokowi as he prepares to lead the world’s fourth-most populous nation. Industrial production in Japan fell more-than-expected last month. The industrial production fell to a seasonally adjusted -3.4%, from -3.3% in the preceding month. Japan’s Corporate Goods Price Index fell to a seasonally adjusted annual rate of 4.3%, from 4.6% in the preceding month.
Singaporean GDP rose to a seasonally adjusted 2.4%, from 2.1% in the preceding quarter. The export-dependent Southeast Asian nation is set to benefit from a recovery in global growth, which is helping to offset higher business costs as the government pursues a plan to slow the inflow of foreign workers, boost productivity and attract new industries.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2221.60 | -3.06 | -0.14 |
Hang Seng | 24689.41 | 43.39 | 0.18 |
Jakarta Composite | 5132.40 | 19.16 | 0.37 |
KLSE Composite | 1850.39 | 1.07 | 0.06 |
Nikkei 225 | 15161.31 | 30.79 | 0.20 |
Straits Times | 3303.39 | -3.06 | -0.09 |
KOSPI Composite | 2041.47 | 2.10 | 0.10 |
Taiwan Weighted | 9163.12 | -9.79 | -0.11 |