Asian equity indices ended mostly in green on Wednesday, after strong US housing data lifted Wall Street shares. Japan’s exports rose in July for the first time in three months in a tentative sign that demand overseas is starting to recover, which could raise hopes that exports can offset a slump in consumer spending. The export data will be a relief for the Bank of Japan, which has predicated its economic growth and inflation forecasts on a rapid rise in exports as part of the government’s ‘Abenomics’ plan to energize the Japanese economy. The 3.9% annual rise in July was roughly in line with a 3.8% increase expected. Japan’s trade balance rose to a seasonally adjusted -1.02T, from -1.07T in the preceding month whose figure was revised up from -1.08T. Japan’s All Industries Activity Index fell to a seasonally adjusted -0.4%, from 0.6% in the preceding month. In Hong Kong, the composite interest rate slipped to 0.45% at the end of July from 0.47% at the end of June. The Monetary Authority stated that the drop reflected a moderate decrease in the weighted funding cost for deposits.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2240.21 | -5.12 | -0.23 |
Hang Seng | 25159.76 | 36.81 | 0.15 |
Jakarta Composite | 5190.17 | 25.00 | 0.48 |
KLSE Composite | 1878.89 | 6.73 | 0.36 |
Nikkei 225 | 15454.45 | 4.66 | 0.03 |
Straits Times | 3323.65 | 7.22 | 0.22 |
KOSPI Composite | 2072.78 | 1.64 | 0.08 |
Taiwan Weighted | 9288.05 | 44.27 | 0.48 |