The Asian equity benchmarks ended in green on Friday, with China’s stocks rallying sending the benchmark index to its biggest two-day gain in five years, on a drop in money-market rates and speculation that government will take more measures to bolster the economy. Hong Kong Stock Exchange was closed on account of ‘The first weekday after Christmas Day’ holiday while Indonesia Stock Exchange was closed on account of ‘National Leave’ holiday. Japanese annual core consumer inflation slowed for a fourth straight month in November due largely to sliding oil prices, highlighting the challenges the central bank faces in achieving its 2% inflation target. Factory output unexpectedly fell and household spending remained weak, suggesting that any rebound in the economy from recession will be mild and fragile. The core consumer price index (CPI), which excludes volatile fresh food but includes oil products, rose 2.7% in November from a year earlier, matching a median market forecast.
Japanese Statistics Bureau stated that the percentage of the total work force that is unemployed and actively seeking employment during the previous month remained unchanged at a seasonally adjusted 3.5% compared to the preceding month. Japan’s industrial production fell to a seasonally adjusted -0.6%, from 0.4% in the preceding month while Japan’s Average Cash Earnings fell to a seasonally adjusted -1.5%, from 0.2% in the preceding quarter whose figure was revised down from 0.5%. Japanese Household Spending rose to a seasonally adjusted -2.5%, from -4.0% in the preceding month. Singaporean Industrial Production fell to an annual rate of -2.8%, from -0.2% in the preceding month.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,157.60 | 85.07 | 2.77 |
Hang Seng | - | - | - |
Jakarta Composite | - | - | - |
KLSE Composite | 1,764.44 | 14.70 | 0.84 |
Nikkei 225 | 17,818.96 | 10.21 | 0.06 |
Straits Times | 3,353.68 | 7.77 | 0.23 |
KOSPI Composite | 1,948.16 | 1.55 | 0.08 |
Taiwan Weighted | 9,214.07 | 55.37 | 0.60 |
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