The Asian markets closed mostly in green on Friday, with Hong Kong and mainland shares surging on hopes that the latest disappointing Chinese economic data will spur the country’s leaders to announce further stimulus measures. The Bank of Japan board voted as expected to keep monetary policy steady, with Takahide Kiuchi repeating his call for a lower bond buying target in a singular note of dissent. Kiuchi wants the BoJ to cut the level of purchases from 80 trillion yen annually set in October last year to about 45 trillion yen. The board however did say that private consumption domestically has been resilient and exports are picking up, though downside risks remain from weak growth in Europe. The overall economic assessment was revised stronger slightly. The BoJ also stated that the economy is expected to continue recovering moderately, slightly different from last month’s outlook that it will continue its moderate recovery trend.
Singapore’s industrial output in April is forecast to have fallen from a year earlier, after a recent survey of purchasing managers showed that the city-state’s factory activity hit a two-year low. Singapore’s Consumer Price Index in April probably fell from a year earlier for the sixth straight month, likely dragged down by lower housing costs. The all-items Consumer Price Index (CPI) was seen easing 0.1% from a year earlier. Japan’s All Industries Activity Index fell to a seasonally adjusted -1.3%, from 0.2% in the preceding month whose figure was revised up from 0.1%.
Asian Indices Last Trade Change in Points Change in % Shanghai Composite 4,657.60 128.18 2.83 Hang Seng 27,992.83 469.11 1.70 Jakarta Composite 5,315.15 1.95 0.04 KLSE Composite 1,787.50 -7.54 -0.42 Nikkei 225 20,264.41 61.54 0.30 Straits Times 3,450.18 10.32 0.30 KOSPI Composite 2,146.10 23.29 1.10 Taiwan Weighted 9,638.80 60.24 0.63
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