Asian markets closed mostly in red on Thursday as Greece continued last-minute efforts to avert a default. China is to scrap its longstanding loan-to-deposit ratio requirement, the latest in a series of measures to reform the country’s commercial banking sector and get more lending into a slowing economy. The People’s Bank of China will moderately increase short-term liquidity in the banking system through issuing reverse repos to stabilize market expectations. South Korea announced a stimulus package of more than 15 trillion won ($13 billion) including a supplementary budget, and slashed its economic growth forecast. South Korea’s finance minister stated that he was worried about quarterly growth which would be lower than 1 percent over the April-June period, against a backdrop of an outbreak of Middle East Respiratory Syndrome and an economic slump. South Korean Consumer Confidence fell to 99, from 105 in the preceding month. Hong Kong Trade Balance fell to a seasonally adjusted -40.1B, from -39.2B in the preceding month. Malaysian Unemployment Rate remained unchanged at a seasonally adjusted 3.0%, compared to the preceding month.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 4,527.78 | -162.37 | -3.46 |
Hang Seng | 27,145.75 | -259.22 | -0.95 |
Jakarta Composite | 4,920.04 | -33.47 | -0.68 |
KLSE Composite | 1,716.81 | -14.87 | -0.86 |
Nikkei 225 | 20,771.40 | -96.63 | -0.46 |
Straits Times | 3,349.87 | -1.46 | -0.04 |
KOSPI Composite | 2,085.06 | -0.47 | -0.02 |
Taiwan Weighted | 9,476.34 | 79.03 | 0.84 |