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Asian markets close in green on Wednesday

24 Jun 2015 Evaluate

Asian markets closed in green on Wednesday, as investors waited for some positive resolution on Greece’s debt crisis. The bailout deal is however in doubt as Greece Prime Minister Tsipras informed that measures were not accepted by creditors. Indonesia’s central bank, hoping to spur economic growth reduced the minimum down-payments consumers have to pay for cars and motorcycles while increasing the percentage of a home price that a buyer can borrow. A new regulation loosening rules for automotive and mortgage lending took effect on June 18. The benefits of the Bank of Japan’s aggressive easing are being outweighed by side effects, one board member stated in the minutes of the May meeting released. Board member Takahide Kiuchi in particular has dissented at recent board meetings and called for a cut in outright annual government bond purchases to 45 trillion yen from 80 trillion yen now. At the May meeting, the board decided by an 8 to 1 vote to leave the bank’s policy target unchanged while revising up its economic assessment slightly and warning about the downside risk from Europe’s low growth and inflation. In the minutes, there was also concern raised about a slowdown in China and whether inflation expectations overall would rise. At the same time Japan released May service producer prices, which rose 0.6% year-on-year, down slightly from 0.7% gain in April. Japan’s corporate services price index fell to a seasonally adjusted annual rate of 0.6%, from 0.7% in the preceding month. Taiwanese Industrial Production fell to a seasonally adjusted annual rate of -3.18%, from 1.06% in the preceding month.

Asian Indices

Last Trade

Change in Points

Change in %

Shanghai Composite

4,690.15

113.66

2.48

Hang Seng

27,404.97

71.51

0.26

Jakarta Composite

4,953.52

15.87

0.32

KLSE Composite

1,731.68

4.82

0.28

Nikkei 225

20,868.03

58.61

0.28

Straits Times

3,351.33

11.55

0.35

KOSPI Composite

2,085.53

4.33

0.21

Taiwan Weighted

9,397.31

6.17

0.07

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