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Asian markets end mostly in green on Thursday

12 Mar 2015 Evaluate

The Asian markets ended mostly in green on Thursday, as anxiety over US rate hike eases. Chinese banks extended 1.02 trillion yuan ($162.9 billion) of new loans in February, well above market expectations, while growth in broad money supply quickened, taking some heat off the central bank as it seeks to boost flagging economic growth. Total social financing, a broader measure of overall liquidity in the economy, fell to 1.35 trillion yuan in February, versus 2.05 trillion yuan in January. Big Japanese manufacturers grew less optimistic in January-March and they expect business conditions to worsen in the following quarter, a government survey showed, underscoring the economy’s fragile recovery from recession. According to the joint survey by the Ministry of Finance and the Cabinet Office, the business survey index (BSI) of sentiment at large manufacturers stood at plus 2.4 in January-March, compared with plus 8.1 in the prior three months. Japanese Household Confidence rose to a seasonally adjusted annual rate of 40.7, from 39.1 in the preceding month.

South Korea unexpectedly lowered its benchmark interest rate to a record low of 1.75%, joining central banks from Europe to India in efforts to revitalize sluggish economic growth. The quarter percentage point cut was the first interest rate cut by the Bank of Korea in five months. But the central bank stated that South Korea’s economic growth and inflation this year will be lower than expected. Malaysian Industrial Production fell to a seasonally adjusted annual rate of 7.0%, from 7.4% in the preceding month.

     Asian Indices

Last Trade

Change in Points

Change in %

Shanghai Composite

3,349.32

58.42

1.78

Hang Seng

23,797.96

79.99

0.34

Jakarta Composite

5,439.83

20.27

0.37

KLSE Composite

1,786.87

8.71

0.49

Nikkei 225

18,991.11

267.59

1.43

Straits Times

3,373.60

-4.99

-0.15

KOSPI Composite

1,970.59

-10.24

-0.52

Taiwan Weighted

9,596.00

72.82

0.76

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