Asian markets close mostly in red on Wednesday

29 Apr 2015 Evaluate

The Asian markets closed mostly in red on Wednesday, while Shanghai Composite closed marginally in green. Japanese stock exchange is closed today on account of ‘Showa Day’ holiday. China will reduce import tariffs on some consumer goods by the end of June to help boost domestic spending and support the economy. The State Council, China’s Cabinet, stated that the decision was made in order to satisfy rising consumer demand but did not specify which consumer goods would benefit from reduced tariffs. The move comes as annual economic growth in the world's second biggest economy slowed to a six-year low of 7 percent in the first quarter, hurt by a housing slump and a downturn in investment and manufacturing. The outstanding amount of China’s dollar-denominated Qualified Foreign Institutional Investor (QFII) programme rose to $73.6 billion as of April 28, slightly higher than $72.1 billion in March. The QFII scheme was created years ago by China to allow foreigners to invest in Chinese capital markets. Hong Kong Trade Balance fell to a seasonally adjusted -46.2B, from -35.9B in the preceding month.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	4,476.62	0.41	0.01
Hang Seng	28,400.34	-42.41	-0.15
Jakarta Composite	5,105.56	-136.59	-2.61
KLSE Composite	1,842.93	-12.13	-0.65
Nikkei 225	-	-	-
Straits Times	3,487.15	-7.94	-0.23
KOSPI Composite	2,142.63	-5.04	-0.23
Taiwan Weighted	9,853.83	-103.00	-1.03

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