The Asian equity benchmarks ended mostly in green on Wednesday, with Japanese stocks rising for a fourth day following a public holiday after the yen fell and the US reported the fastest economic growth in 11 years. China’s stocks tumbled for a second day, the biggest two-day loss since June 2013 amid speculation that government is taking measures to cool the world’s best-performing major stock market over the past month. Chinese banks, which suffered a steady rise in bad loans this year, must step up efforts to rein in lending risks in 2015. The China Banking Regulatory Commission (CBRC) stated that the average non-performing loan ratio of Chinese banks was at 1.31% at the end of November. That marked a rise from 1.16% at the end of September and 1.08% at the end of June. Japanese Finance Minister Taro Aso urged companies to boost wages to help underpin private consumption, stressing that such private-sector efforts are key to the success of premier Shinzo Abe’s ‘Abenomics’ stimulus policies. The minister also reiterated the need to push through fiscal reforms to prevent losing market trust in Japan’s finances, after having delayed a second sales tax hike next year.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,972.53 | -60.08 | -1.98 |
Hang Seng | 23,349.34 | 15.65 | 0.07 |
Jakarta Composite | 5,166.98 | 27.92 | 0.54 |
KLSE Composite | 1,749.74 | 0.69 | 0.04 |
Nikkei 225 | 17,854.23 | 219.09 | 1.24 |
Straits Times | 3,345.91 | 13.40 | 0.40 |
KOSPI Composite | 1,946.61 | 7.59 | 0.39 |
Taiwan Weighted | 9,186.18 | 88.47 | 0.97 |
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