Asian markets ended mostly in red on Wednesday, with China’s stocks dropping for the first time in seven days on concern that recent gains were excessive of valuations. Bank of Japan Governor Haruhiko Kuroda stated that reaching a sustained level of 2% inflation in two years is a hard task for any central bank but Japan needs to find a way end a deflationary spiral. Kuroda added that the BoJ board’s projection in its latest semi-annual outlook report released has been revised down slightly; CPI inflation is still projected as likely to reach around 2% in or around fiscal 2015. He also lauded a weaker yen as benefiting exports and stated that it reflects Japan’s fundamentals. Indonesian GDP fell to a seasonally adjusted annual rate of 5.01%, from 5.12% in the preceding month. Taiwanese CPI fell to a seasonally adjusted annual rate of -0.18%, from 0.10% in the preceding quarter. Philippines CPI rose to a seasonally adjusted annual rate of 0.1%.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2419.25 | -11.42 | -0.47 |
Hang Seng | 23,695.62 | -150.04 | -0.63 |
Jakarta Composite | 5066.83 | -4.11 | -0.08 |
KLSE Composite | 1839.29 | -8.07 | -0.44 |
Nikkei 225 | 16937.32 | 74.85 | 0.44 |
Straits Times | 3287.54 | 5.97 | 0.18 |
KOSPI Composite | 1931.43 | -3.76 | -0.19 |
Taiwan Weighted | 8962.60 | -26.58 | -0.30 |