Asian markets closed mostly in green on Thursday, while Shanghai stocks closed lower after another volatile day despite regulators relaxing margin trading rules. The World Bank urged China to accelerate reform of its state-dominated financial sector, warning that failure to address the issue could end three decades of stellar performance for the world’s second-largest economy. A quarterly survey of Bank of Japan showed that more Japanese households feel they are better off than a year ago and are spending more in anticipation that their income will rise, in a sign that improved consumption will underpin a moderate economic recovery. An index measuring households’ sentiment concerning current economic conditions improved for two straight quarters in June, with more than half of the respondents citing rising family income. The upbeat mood came despite rising living costs and expectations of higher prices ahead. Japan’s Monetary Base fell to 34.2%, from 35.6% in the preceding month. Credit ratings agency Moody’s reported that South Korean banks were at risk from a growing number of so-called marginal companies with an extremely high debt burden at a time of worsening profitability in key sectors.
Asian Indices Last Trade Change in Points Change in % Shanghai Composite 3,912.77 -140.93 -3.48 Hang Seng 26,282.32 32.29 0.12 Jakarta Composite 4,944.78 40.72 0.83 KLSE Composite 1,733.88 5.92 0.34 Nikkei 225 20,522.50 193.18 0.95 Straits Times 3,327.84 -3.30 -0.10 KOSPI Composite 2,107.33 9.44 0.45 Taiwan Weighted 9,379.24 4.01 0.04
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