Asian markets closed mostly in red on Monday, after Greek results while Shanghai Composite index rebounded from last week’s heavy losses after regulators and the securities industry intervened to prop up the markets. Bank Indonesia has cut its loan growth forecast for the year following slow loan demand in the first six months. The central bank stated that the country’s credit growth may not reach 15 to 17 percent, but 11 to 13 percent for the whole year. The central bank’s board of governors is set to meet on July 14. Lenders in Indonesia have disbursed Rp 3,792.8 trillion ($284.64 billion) in loans for the year up to May, an increase of 10.3 percent from the same period a year before. Foreign exchange bank deposits in South Korea fell for a second month in June, central bank data showed, as some public institutions dipped into their deposits for payments, including import fees. Total deposits edged down $80 million to $64.7 billion as of the end of June, the Bank of Korea stated, bringing the overall amount to the lowest since March this year. Fitch Ratings stated that Japan’s public debt burden is likely to remain high under a new fiscal framework approved last month as the government’s structural reforms will not boost economic growth and tax revenue significantly. Japan’s Monetary Base fell to 34.2%, compared to 35.6% in the preceding month.
Asian Indices Last Trade Change in Points Change in % Shanghai Composite 3,775.91 89.00 2.41 Hang Seng 25,236.28 -827.83 -3.18 Jakarta Composite 4,916.74 -66.17 -1.33 KLSE Composite 1,717.05 -17.19 -0.99 Nikkei 225 20,112.12 -427.67 -2.08 Straits Times 3,332.94 -9.79 -0.29 KOSPI Composite 2,053.93 -50.48 -2.40 Taiwan Weighted 9,255.96 -102.27 -1.09
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