The Asian markets closed mostly in green, while Hong Kong and Shanghai retreated after more disappointing Chinese data pointing to a further slowdown in the economy. Bank of Japan Governor Haruhiko Kuroda acknowledged that last year’s sales tax hike imposed bigger damage on the economy and prices than initially expected. He added that the economy is sustaining positive momentum spurred by the central bank’s massive stimulus programme adopted in 2013. Kuroda enlightened that excessive yen strength has been reverWatchers Current Index sed since the introduction of the bank’s massive stimulus programme in 2013. The BOJ’s quantitative and qualitative easing was to lower real interest rates by pushing down nominal interest rates and heightening inflation expectations.
Japan’s Economy rose to a seasonally adjusted 53.6, from 52.2 in the preceding month while Japan’s Current Account rose to a seasonally adjusted 2.07T, from 0.61T in the preceding month whose figure was revised up from 0.60T. Japan’s Bank Lending remained unchanged at a seasonally adjusted annual rate of 2.6%, from the preceding quarter. Chinese Industrial Production rose to 5.9%, from 5.6% in the preceding month while Chinese Retail Sales fell to an annual rate of 10.0%, from 10.2% in the preceding month. Chinese Fixed Asset Investment fell to a seasonally adjusted 12.0%, from 13.5% in the preceding month.
Asian Indices Last Trade Change in Points Change in % Shanghai Composite 4,375.76 -25.46 -0.58 Hang Seng 27,249.28 -157.90 -0.58 Jakarta Composite 5,246.13 40.52 0.78 KLSE Composite 1,803.02 4.41 0.25 Nikkei 225 19,764.72 139.88 0.71 Straits Times 3,453.17 10.84 0.31 KOSPI Composite 2,114.16 17.39 0.83 Taiwan Weighted 9,724.11 43.38 0.45
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