Asian markets closed mostly in green on Friday, with China’s benchmark index closing higher, taking its two-day rise over 10% as government moves to boost the flagging market saw sentiment recover. Singapore’s economic growth is expected to have slowed down in the second quarter as sluggish global demand hurt the city-state’s manufacturing sector. Japanese wholesale prices fell 2.4% in the year to June to mark the third straight month of declines, as soft demand in China drove down commodities markets. While declines in raw material costs benefit Japanese manufacturers, they will keep life difficult for the Bank of Japan as it strives to accelerate consumer inflation toward its ambitious 2% target. Excluding the effect of last year’s sales tax hike, wholesale prices fell 2.5% in the year to June. That marked the eighth straight month of declines and the biggest drop since January. China’s vehicle sales will only grow 3% year-on-year in 2015, in a major downward revision of its prediction for the year. The China Association of Automobile Manufacturers (CAAM) in January stated that it expected combined sales for passenger and commercial vehicles to grow 7% to 25.1 million this year, compared with 6.9% in 2014. Malaysian Industrial Production rose to a seasonally adjusted annual rate of 4.5%, from 4.0% in the preceding month. Asian Indices Last Trade Change in Points Change in % Shanghai Composite 3,877.80 168.47 4.54 Hang Seng 24,901.28 508.49 2.08 Jakarta Composite 4,859.04 20.75 0.43 KLSE Composite 1,715.58 14.04 0.83 Nikkei 225 19,779.83 -75.67 -0.38 Straits Times 3,279.88 12.48 0.38 KOSPI Composite 2,031.17 3.36 0.17 Taiwan Weighted - - -
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