Asian markets ended mixed on Tuesday, with Nikkei hitting a new seven-year high due to weaker yen and following another record close on Wall Street. Indonesia’s benchmark stock index gained for the first time in seven days on speculation President Joko Widodo will improve regional trade ties and secure enough support from parliament to push through reforms. Widodo is on a nine-day trip to attend the Asia Pacific Economic Cooperation summit in Beijing, prompting speculation he’ll attract more foreign direct investment to Southeast Asia’s biggest economy. Since starting work on October 27, Jokowi’s ministers have promised to cut fuel subsidies and overhaul permits for investors. Jokowi’s biggest test will be in pushing through plans to increase the price of subsidized fuel.
Japan’s economy watchers current index fell unexpectedly last month. The Japan’s Economy Watchers Current Index fell to a seasonally adjusted 44.0, from 47.4 in the preceding month. Japan posted its third consecutive monthly surplus in September of $8.1 billion, as a weaker yen lifted the value of overseas investment income, despite continuing trade deficits while Japanese Household Confidence rose to a seasonally adjusted annual rate of 38.9. Malaysian Industrial Production fell to a seasonally adjusted annual rate of 5.4%, from 6.5% in the preceding month.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2469.67 | -4.00 | -0.16 |
Hang Seng | 23,808.28 | 63.58 | 0.27 |
Jakarta Composite | 5032.29 | 66.90 | 1.35 |
KLSE Composite | 1825.11 | -2.82 | -0.15 |
Nikkei 225 | 17124.11 | 343.58 | 2.05 |
Straits Times | 3292.15 | -8.85 | -0.27 |
KOSPI Composite | 1963.00 | 4.77 | 0.24 |
Taiwan Weighted | 9034.14 | -15.84 | -0.18 |