Asian markets closed mostly in green on Tuesday, while Shanghai stocks ended lower in volatile trade after rallying in the previous three sessions on government support. China’s central bank will fine-tune its policy to provide ample and appropriate liquidity for the economy. According to a transcript of a PBOC, the recent bank reserve requirement and interest rate cuts helped boost M2 growth, a broad measure of money supply. Ample liquidity in China’s interbank market and falling interest rates have lowered financing costs in the real economy, with companies’ general cost of financing falling to 6.32 percent at the end of June from 7.0 percent at the end of 2014. Singapore economy unexpectedly contracted in the second quarter as sluggish global demand knocked the city-state’s manufacturing sector, dimming the outlook as growth in key trade partner China continues to cool. Advance estimates from the Ministry of Trade and Industry (MTI) showed that gross domestic product shrank 4.6 percent in the second quarter from the previous three months on an annualized and seasonally adjusted basis, pressured by the manufacturing sector contracting 14 percent on quarter.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,924.49 | -45.90 | -1.16 |
Hang Seng | 25,120.91 | -103.10 | -0.41 |
Jakarta Composite | 4,901.81 | 7.89 | 0.16 |
KLSE Composite | 1,721.10 | 4.99 | 0.29 |
Nikkei 225 | 20,385.33 | 295.56 | 1.47 |
Straits Times | 3,316.50 | 5.28 | 0.16 |
KOSPI Composite | 2,059.23 | -2.29 | -0.11 |
Taiwan Weighted | 9,041.76 | 7.84 | 0.09 |