The Asian equity benchmarks ended mixed on Wednesday, with Hong Kong closing in green, reversing morning losses as investors brushed off a heavy sell-off on Wall Street that was fueled by weak US data and disappointing corporate reports. Japanese Prime Minister Shinzo Abe stated that the government will strive to achieve both economic revival and fiscal reform. Abe added that the country is saddled with a huge public debt and its fiscal situation is very severe. Japan’s trade balance rose to a seasonally adjusted -0.71T, from -0.83T in the preceding month whose figure was revised up from -0.93T. The central bank expects Indonesia’s economic growth to accelerate this year despite challenges ranging from lower commodity prices to higher interest rates. Bank Indonesia Governor Agus Martowardojo stated that the domestic economy may expand by 5.8% this year, an increase from the bank’s estimate of last year’s growth of between 5.1% and 5.5%. Indonesia’s Finance Minister Bambang Brodjonegoro stated that the rupiah’s current level supports exports and helps narrow the country’s current account deficit, signaling the government is comfortable with the currency’s 3% drop since October.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,305.74 | -47.22 | -1.41 |
Hang Seng | 24,861.81 | 54.53 | 0.22 |
Jakarta Composite | 5,268.85 | -8.30 | -0.16 |
KLSE Composite | 1,795.88 | -7.29 | -0.40 |
Nikkei 225 | 17,795.73 | 27.43 | 0.15 |
Straits Times | 3,419.15 | 6.95 | 0.20 |
KOSPI Composite | 1,961.58 | 9.18 | 0.47 |
Taiwan Weighted | 9,510.92 | -10.67 | -0.11 |