Asian markets ended mostly in green on Tuesday, with momentum from prior gains fading as investors were left short of cues with the US markets closed on Monday. China’s benchmark stock index rose to a 15-month high, led by defense and technology companies, amid speculation that the government will increase military spending as part of its efforts to bolster economic growth. Japan’s indices rose to a seven-month high as the yen weakened amid speculation a politician in favor of pension reform will be appointed health minister, with duties including overseeing retirement savings. The Bank of Japan is forecast to keep its policy unchanged at a two-day meeting starting tomorrow. BOJ officials expect the premier to proceed with a second sales-tax increase next year following a hike in April to maintain confidence in the government’s finances.
Indonesian manufacturing activity contracted for the first time in a year in August, weakened by declining new orders and production, the HSBC Markit purchasing managers’ index (PMI) survey showed. The index was 49.5 in August, down from 52.7 the previous month and the lowest for Southeast Asia’s largest economy since August 2013. Inflation slowed in August as most raw food prices steadied. Meanwhile, the country posted a trade surplus in July, swinging from a deficit in the previous month. Consumer price inflation in South Korea rose less-than-expected last month. South Korean CPI rose to 0.2%, from 0.1% in the preceding month.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2266.05 | 30.54 | 1.37 |
Hang Seng | 24749.02 | -3.07 | -0.01 |
Jakarta Composite | 5201.59 | 23.97 | 0.46 |
KLSE Composite | 1867.69 | 1.58 | 0.08 |
Nikkei 225 | 15668.60 | 192.00 | 1.24 |
Straits Times | 3328.30 | 14.17 | 0.43 |
KOSPI Composite | 2051.58 | -16.28 | -0.79 |
Taiwan Weighted | 9399.72 | -113.34 | -1.19 |
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