The Asian markets ended mostly in red on Friday, while Taiwan Stock Exchange was closed on account of ‘Peace Memorial Day’ holiday. Indonesia‘s central bank signaled that it is comfortable with the drop in the rupiah as it makes exports more competitive in Southeast Asia’s largest economy. Indonesia‘s economy posted its weakest growth in five years in 2014 as the end of the commodities boom and high interest rates dented investment and domestic demand. Bank of Japan Governor Haruhiko Kuroda repeated his latest outlook that a moderate rebound in crude oil prices will help anchor 2% inflation around fiscal 2015 but indicated a slip in longer-term public inflation expectations. The Governor repeated that a plunge in crude oil prices over the past year has filtered to prices, adding downward pressure, but they are expected to rise steadily going forward and, as the base year effect of lower energy costs fades.
Japanese households cut spending more than expected and retail sales fell for the first time in seven months in January, a sign the central bank’s radical stimulus has yet to convince consumers that inflation will take hold. Household spending fell a more-than-expected annual 5.1 percent in January in the 10th straight month of declines, the longest losing streak since the global financial crisis in 2009. Annual retail sales dropped a worse-than-expected 2.0 percent. Japanese Housing Starts rose to a seasonally adjusted -13.0%, from -14.7% in the preceding quarter. Thai Industrial Production fell to a seasonally adjusted -1.31%, from -0.35% in the preceding month.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,310.30 | 11.95 | 0.36 |
Hang Seng | 24,823.29 | -78.77 | -0.32 |
Jakarta Composite | 5,450.29 | -1.13 | -0.02 |
KLSE Composite | 1,821.21 | 0.34 | 0.02 |
Nikkei 225 | 18,797.94 | 12.15 | 0.06 |
Straits Times | 3,402.86 | -23.32 | -0.68 |
KOSPI Composite | 1,985.80 | -7.28 | -0.37 |
Taiwan Weighted | - | - | - |
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