Asian markets ended mixed on Thursday, the Chinese Shanghai Composite gained amid signs the Chinese government is loosening monetary policy further after cutting interest rates for the first time since 2012. China’s central bank refrained from selling repurchase agreements for the first time since July, loosening monetary policy further as a report showed industrial companies’ profits fell by the most in two years. The industrial profits in China fell 2.1 percent from a year earlier in October, the biggest decline since August 2012. However, the gross domestic product is forecast to increase 7.4 percent in 2014, down from an average 10.2 percent in the past decade.
The Japanese shares retreated, as drop in oil weighed on energy companies as well as the dollar fell against the yen for a third day, the longest streak in a month, after data raised concern the US economic recovery has plateaued. The yen rose versus most of its 16 major peers as trading patterns signaled its recent declines were excessive amid speculation traders are reducing bearish positions into month-end.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,630.49 | 26.14 | 1.00 |
Hang Seng | 24,004.28 | -107.70 | -0.45 |
Jakarta Composite | 5,145.31 | 12.28 | 0.24 |
KLSE Composite | 1,842.17 | -12.26 | -0.67 |
Nikkei 225 | 17,248.50 | -135.08 | -0.78 |
Straits Times | 3,340.96 | -8.70 | -0.26 |
KOSPI Composite | 1,982.09 | 1.25 | 0.06 |
Taiwan Weighted | 9,165.31 | 42.92 | 0.47 |
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