The Asian equity benchmarks ended mostly in green on Wednesday, with China’s Shanghai Composite Index climbing for a fourth day. China’s annual economic growth likely slowed to 7.2% in the fourth quarter, the weakest since the depths of the global crisis, a poll showed, which would keep pressure on policymakers to head off a sharper slowdown this year. The expected slowdown in growth of the world’s second-largest economy, from 7.3% in the June-September quarter, means full-year would undershoot the government’s 7.5% target and mark the weakest expansion in 24 years. Malaysian Trade Balance rose to 11.13B, from 1.20B in the preceding month.
Japanese Prime Minister Shinzo Abe informed that he may be able to declare that the country has broken free from a long phase of deflation if companies continue to raise wages. Abe hopes that by improving the economy Japan will be able to contribute to global growth. Japan’s budget for next fiscal year will forecast 24-year high tax revenues of $460 billion as corporate profits surge under the economic growth policies of Prime Minister Shinzo Abe. The budget for the year from April expected to top 96 trillion yen ($800 billion) and to be approved by Abe’s cabinet on January 14, will forecast tax revenues of 54.5 trillion yen, the highest since 1991.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,373.95 | 22.51 | 0.67 |
Hang Seng | 23,681.26 | 195.85 | 0.83 |
Jakarta Composite | 5,207.12 | 38.06 | 0.74 |
KLSE Composite | 1,709.18 | -7.40 | -0.43 |
Nikkei 225 | 16,885.33 | 2.14 | 0.01 |
Straits Times | 3,298.36 | 16.41 | 0.50 |
KOSPI Composite | 1,883.83 | 1.38 | 0.07 |
Taiwan Weighted | 9,080.09 | 31.75 | 0.35 |