The Asian equity benchmarks ended mostly in green on Wednesday, following rallies in Europe on hopes that Greece will be able to thrash out a new debt deal with creditors. China’s services sector grew at the slowest pace in six months in January raising expectations that policymakers will need to unveil more stimulus measures to avert a sharper slowdown in the world’s second-largest economy. The HSBC/Markit Services Purchasing Managers’ Index (PMI) fell to 51.8 last month - the lowest since July 2014 - from December’s 53.4. But it remained above the 50-point level that separates contraction from growth in activity on a monthly basis.
The International Monetary Fund (IMF) lowered its forecast for Thailand’s economic growth to 3.5% in 2015, and 0.5% growth in 2014, amid concerns over political stability, weak export demand and slow consumption. Thailand’s military government has struggled to revive growth in Southeast Asia’s second-largest economy since seizing power in May to end prolonged political unrest that hurt tourism, investment and consumption. Japan’s Average Cash Earnings rose to a seasonally adjusted 1.6%, from 0.1% in the preceding quarter whose figure was revised up from -1.5%.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,174.13 | -30.78 | -0.96 |
Hang Seng | 24,679.76 | 124.98 | 0.51 |
Jakarta Composite | 5,315.28 | 23.57 | 0.45 |
KLSE Composite | 1,803.02 | 21.76 | 1.22 |
Nikkei 225 | 17,678.74 | 342.89 | 1.98 |
Straits Times | 3,417.57 | 9.55 | 0.28 |
KOSPI Composite | 1,962.79 | 10.83 | 0.55 |
Taiwan Weighted | 9,513.92 | 65.19 | 0.69 |