Asian markets ended mostly in red on Tuesday, with Nikkei 225 Stock Average climbing above 17,000 for the first time since 2007, after the yen weakened as investors weighed additional stimulus by Japan’s central bank. The pension fund and the central bank are critical weapons in Prime Minister Shinzo Abe’s arsenal as he seeks to end the deflationary spiral that crippled the world’s third-largest economy for much of the past two decades. Sales of new homes in Shanghai surged to the highest in nearly a year last week as home-buying sentiment improved due to favorable central bank measures. The purchases of new homes, excluding government-funded affordable housing, rose 25 percent from the previous week to 334,900 square meters, or a 51-week high. Indonesia’s economy is likely to have stayed in a rut in the third quarter with growth at its slowest for five years as exports suffered from weak global demand, and domestic consumption sagged after an election campaign spending splurge. Elected in July and sworn in late last month, President Joko Widodo faces a challenge turning round Southeast Asia’s largest economy, while also having to rein in an overblown fiscal deficit bequeathed by the previous administration. Consumer price inflation (CPI) in South Korea fell more-than-expected last month. South Korean CPI fell to -0.3%, from -0.1% in the preceding month.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2430.68 | 0.65 | 0.03 |
Hang Seng | 23,845.66 | -70.31 | -0.29 |
Jakarta Composite | 5070.94 | -14.57 | -0.29 |
KLSE Composite | 1847.36 | -5.98 | -0.32 |
Nikkei 225 | 16,862.47 | 448.71 | 2.73 |
Straits Times | 3281.57 | -9.27 | -0.28 |
KOSPI Composite | 1935.19 | -17.78 | -0.91 |
Taiwan Weighted | 8989.18 | -15.68 | -0.17 |
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