The Asian markets closed mostly in red on Thursday, following weak US economic data and a sharp sell-off in US shares. Investors have also taken cautious approach after Saudi Arabia launched air strikes in Yemen. Bank of Japan has reported that the country’s exports struggled for the past two years due to lower demand for capital goods, a shift in production overseas and a loss of competitiveness, but these structural problems are fading away. As these structural problems become less of a factor, exports are likely to expand and will get an added boost from the yen’s recent weakening. Strong exports are important because they keep factory workers employed, supporting consumer spending and the BOJ’s plan to achieve 2% inflation. Hong Kong Trade Balance rose to a seasonally adjusted -35.9B, from -37.0B in the preceding month. Singaporean Industrial Production fell to an annual rate of -3.6%, from 1.3% in the preceding month whose figure was revised up from 0.9%. South Korean Consumer Confidence fell to 101, from 103 in the preceding month.
Asian Indices Last Trade Change in Points Change in % Shanghai Composite 3,682.10 21.37 0.58 Hang Seng 24,497.08 -31.15 -0.13 Jakarta Composite 5,368.80 -36.69 -0.68 KLSE Composite 1,818.42 -0.68 -0.04 Nikkei 225 19,471.12 -275.08 -1.39 Straits Times 3,431.59 12.57 0.37 KOSPI Composite 2,022.56 -20.25 -0.99 Taiwan Weighted 9,619.12 -48.71 -0.50
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