The Asian equity benchmarks ended mostly in green on Thursday, after the Federal Reserve pledged patience on interest-rate increase and the yen weakened. China’s foreign exchange regulator expressed concerns over the devaluation of the Russian ruble, asking Chinese entities to take measures to avoid risks. China’s economy showed mild signs of stabilization in the fourth quarter but corporates remained cautious on investment, a business survey found, highlighting stubborn resistance to efforts from Beijing to reinvigorate growth. China’s new home prices fell again in November and a business survey showed a deep drop in real estate investment plans, adding gloom to a slumping property market that has so far defied government efforts to revive it. Average home prices in 70 major Chinese cities fell by an annual 3.7% last month following a 2.6% fall in October, the biggest drop since 2011 and a threat to economic growth.
Japan will spend up to $30 billion in a stimulus package to revive the country’s regions but will keep new bond issuance in check, highlighting the tough balance Prime Minister Shinzo Abe must strike between lifting growth and fixing Tokyo’s tattered finances. A finance ministry’s key fiscal panel has called for drastic steps to cut government spending and secure revenue to meet Tokyo’s aim of halving the primary budget deficit next year, describing the goal as quite difficult. Hong Kong Unemployment Rate remained unchanged at a seasonally adjusted 3.3% compared to the preceding month.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,057.52 | -3.50 | -0.11 |
Hang Seng | 22,832.21 | 246.37 | 1.09 |
Jakarta Composite | 5,113.35 | 77.70 | 1.54 |
KLSE Composite | 1,699.95 | 18.05 | 1.07 |
Nikkei 225 | 17,210.05 | 390.32 | 2.32 |
Straits Times | 3,243.65 | 16.42 | 0.51 |
KOSPI Composite | 1,897.50 | -2.66 | -0.14 |
Taiwan Weighted | 8,878.63 | 50.27 | 0.57 |
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