Asian markets closed mostly in red on Friday with China’s Shanghai Composite index closing with a cut of more than 7 percent amid on margin trading concerns thereby increasing worries that the country’s bull-run is running out of steam. Japan’s national core consumer price index rose 0.1% on year in May for the 24th straight year-on-year increase and above the flat result expected, but still a slowdown from April's 0.3% gain. The data however may be of little comfort for the Bank of Japan as it watches for signs households and businesses expect higher prices that bring it closer to a 2% inflation target around the first half of fiscal 2016. Japanese Household Spending rose to a seasonally adjusted 4.8%, from -1.3% in the preceding month. The percentage of the total work force in Japan that is unemployed and actively seeking employment during the previous month remained unchanged at a seasonally adjusted 3.3%, compared to the preceding month. Singaporean Industrial Production rose to an annual rate of -2.3%, from -8.7% in the preceding month.
Asian Indices Last Trade Change in Points Change in % Shanghai Composite 4,192.87 -334.91 -7.40 Hang Seng 26,663.87 -481.88 -1.78 Jakarta Composite 4,923.00 2.96 0.06 KLSE Composite 1,710.47 -6.34 -0.37 Nikkei 225 20,706.15 -65.25 -0.31 Straits Times 3,320.90 -28.97 -0.86 KOSPI Composite 2,090.26 5.20 0.25 Taiwan Weighted 9,462.57 -13.77 -0.15