The Asian equity benchmarks ended in red on Thursday, with Chinese stocks falling for a third day, sending the benchmark index to a one-week low, amid speculation increased regulatory scrutiny of margin loans will spur some leveraged investors to reduce holdings. Bank of Japan Governor Haruhiko Kuroda stated that he was focusing on the long-term inflation trend, which showed the country remained on track to hit his ambitious price target. Kuroda added that while consumer inflation may slow in the short-term due to slumping oil prices, it will accelerate in the latter half of the next fiscal year beginning in April as companies raise wages and an economic recovery pushes up prices. Japan’s retail sales fell to a seasonally adjusted annual rate of 0.2%, from 0.4% in the preceding month. Thai Industrial Production rose to a seasonally adjusted -0.4%, from -3.5% in the preceding month.
A Philippine official stated that the country no longer deserves to be branded the ‘sick man of Asia’ after its economy grew more than 6% for a third consecutive year. Hampered by natural disasters, growth of the $300 billion economy slowed to 6.1% in 2014, but still outpaced most other countries in Asia. The 2014 performance ranks the Philippines as the second fastest growing Asian country behind China. Philippines GDP rose to a seasonally adjusted annual rate of 6.9%, from 5.3% in the preceding month.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,262.31 | -43.43 | -1.31 |
Hang Seng | 24,595.85 | -265.96 | -1.07 |
Jakarta Composite | 5,262.72 | -6.13 | -0.12 |
KLSE Composite | 1,782.18 | -13.70 | -0.76 |
Nikkei 225 | 17,606.22 | -189.51 | -1.06 |
Straits Times | 3,419.05 | -0.10 | - |
KOSPI Composite | 1,951.02 | -10.56 | -0.54 |
Taiwan Weighted | 9,426.90 | -84.02 | -0.88 |
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