Asian markets ended mostly in green on Monday, with the regional benchmark index heading for its first advance in seven days. Most of the Asian markets were shut for holidays. The World Bank lowered its forecasts for growth in developing East Asia this year and next as China’s expansion moderates and policy-makers brace for tighter global monetary conditions. The region is forecast to grow 6.9% in 2014 and 2015, down from 7.1% projected in April. China will expand 7.4% this year and 7.2% next year, compared with 7.6% and 7.5% previously forecast. It raised its forecast for Malaysia’s 2014 growth to 5.7% from 4.9% in April because of robust exports in the first half. The report stated that protests in Hong Kong will probably slow growth there this year but haven’t so far had a significant impact on China’s economy.
Indonesia’s Governor stated that the country’s central bank is prepared to carry out measured intervention to keep the country’s currency in a range it is comfortable with. Deputy Governor at Bank Indonesia stated that loan growth among Indonesia’s commercial banks is forecast to fall below the 15-17% target set by the country’s central bank this year thanks to a slowdown of the economy.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | - | - | - |
Hang Seng | 23,315.04 | 250.48 | 1.09 |
Jakarta Composite | 5000.14 | 50.79 | 1.03 |
KLSE Composite | - | - | - |
Nikkei 225 | 15890.95 | 182.30 | 1.16 |
Straits Times | - | - | - |
KOSPI Composite | 1968.39 | -7.77 | -0.39 |
Taiwan Weighted | - | - | - |