The Asian equity benchmarks ended mostly in red on Friday, while Chinese stocks rose, sending the benchmark index to its longest weekly winning streak in almost eight years, amid speculation the government will take more steps to boost economic growth. China announced fresh support measures for its slowing economy after data showed a worrying drop in bank lending and foreign investment growth falling to a two-year low. The central bank stated that it would lend 50 billion yuan ($8.1 billion) to banks at discounted rates to allow them to re-lend the money to farmers and small businesses - areas of the economy that are usually short of cash. China’s foreign direct investment (FDI) rose at its slowest pace in two years in 2014, underscoring a cooling economy which is spurring more Chinese businesses to plough money overseas in a trend that is soon set to overtake inbound investment. The shifts were evident in China’s foreign direct investment (FDI) for 2014, which rose an annual 1.7% to a record $119.56 billion, while outbound direct investment (ODI) surged 14.1% to a new high of $102.9 billion. Japanese tertiary industry activity index rose to a seasonally adjusted 0.2%, from -0.1% in the preceding month whose figure was revised up from -0.2%.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,376.50 | 40.04 | 1.20 |
Hang Seng | 24,103.52 | -247.39 | -1.02 |
Jakarta Composite | 5,148.38 | -40.33 | -0.78 |
KLSE Composite | 1,743.57 | -1.43 | -0.08 |
Nikkei 225 | 16,864.16 | -244.54 | -1.43 |
Straits Times | 3,300.68 | -38.16 | -1.14 |
KOSPI Composite | 1,888.13 | -26.01 | -1.36 |
Taiwan Weighted | 9,138.29 | -26.80 | -0.29 |
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