The Asian equity benchmarks ended in red on Thursday, on global growth concerns and as tumbling oil prices hit energy firms. Most emerging Asian currencies firmed up as the dollar broadly slid with investors taking profits ahead of the year-end, while Malaysia’s ringgit fell after OPEC cut its forecast for global oil demand next year. Japanese voters head to the polls in three days, with the focus on Prime Minister Shinzo Abe’s economic policies. A revised report on gross domestic product this week confirmed the economy had entered a recession, contracting for two straight quarters since an April sales-tax increase. Japan’s Core Machinery Orders fell to -6.4% compared to 2.9% in the preceding month.
China’s benchmark interest-rate swap climbed by the most since March and money-market rates increased, as the central bank refrained from offering reverse-repurchase agreements in auction window. The People’s Bank of China conducted no open-market operations today for the fifth auction window in a row, having last offered repurchase agreements on November 18. Moody’s Investors Service upgraded its rating on the Philippines by one notch to Baa2 from Baa3 with a stable outlook, citing a decline in the Philippines’ debt burden and structural improvements in fiscal management.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,925.74 | -14.26 | -0.49 |
Hang Seng | 23,312.54 | -211.98 | -0.90 |
Jakarta Composite | 5,152.70 | -12.71 | -0.25 |
KLSE Composite | 1,744.57 | -20.95 | -1.19 |
Nikkei 225 | 17,257.40 | -155.18 | -0.89 |
Straits Times | 3,318.70 | -7.11 | -0.21 |
KOSPI Composite | 1,916.59 | -28.97 | -1.49 |
Taiwan Weighted | 9,013.07 | -19.09 | -0.21 |
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