Asian markets ended mixed on Thursday, with Nikkei 225 closing at the highest in more than six years. Corporate governance in Singapore deteriorated in the past two years amid slowing reforms on the subject, dipping below the perceived strength of Hong Kong for the first time since 2007. According to a survey, Hong Kong scored the highest in Asia Pacific this year with 65, followed by Singapore’s 64, though both were tied for first in the rankings because of the minimal difference in the results. Japan passed Thailand for third, while the Philippines and Indonesia ranked last. The Asian Development Bank trimmed its growth forecast on Indonesia’s economy to 5.3% from 5.7% previously, citing weak commodity prices and the government’s policy to stabilize the economy. The Manila-based institution also revised down its growth forecast on gross domestic product for next year to 5.8% from 6%. The government set a target of 5.4% growth for this year and 5.8% for 2015. Bambang Brodjonegoro, Vice-minister of Finance stated that annual inflation in Indonesia is expected to be under 5% in September and as little as 0.2% on a month-on-month basis. The bureau of statistics will release September inflation and trade data on October 1. Japan’s corporate services price index (CSPI) rose to a seasonally adjusted annual rate of 3.5%, from 3.4% in the preceding month whose figure was revised down from 3.7%.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2345.10 | 1.53 | 0.07 |
Hang Seng | 23768.13 | -153.48 | -0.64 |
Jakarta Composite | 5201.38 | 27.37 | 0.53 |
KLSE Composite | 1843.11 | 3.03 | 0.16 |
Nikkei 225 | 16374.14 | 206.69 | 1.28 |
Straits Times | 3290.99 | -1.82 | -0.06 |
KOSPI Composite | 2034.11 | -1.53 | -0.08 |
Taiwan Weighted | 9011.59 | -86.90 | -0.96 |