Asian markets closed mostly in green on Wednesday, with Tokyo stocks closing higher as a weaker yen supported the market after Bank of Japan cut its annual inflation and growth forecasts, boosting the chance of more monetary easing this year. The Bank of Japan voted 8 to 1 as expected to keep monetary policy steady as board member Takahide Kiuchi once again dissented and called for a cut in outright government bond buying by nearly half. The board enlightened that exports and output were picking up even as consumer prices are nearly flat year-on-year. Kiuchi has called for trimming asset purchased by the BoJ to 45 trillion yen annually from 80 trillion yen set in October last year. Chinese GDP remained unchanged at an annual rate of 7.0% compared to the preceding month. Chinese Retail Sales rose to an annual rate of 10.6%, from 10.1% in the preceding month while Chinese Industrial Production rose to 6.8%, from 6.1% in the preceding month. Indonesian Trade Balance fell to a seasonally adjusted 0.48B, from 0.95B in the preceding month. Singaporean Retail Sales rose to a seasonally adjusted 6.1%, from 5.0% in the preceding month.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,805.70 | -118.78 | -3.03 |
Hang Seng | 25,055.76 | -65.15 | -0.26 |
Jakarta Composite | 4,869.85 | -31.96 | -0.65 |
KLSE Composite | 1,727.26 | 6.16 | 0.36 |
Nikkei 225 | 20,463.33 | 78.00 | 0.38 |
Straits Times | 3,338.86 | 22.36 | 0.67 |
KOSPI Composite | 2,072.91 | 13.68 | 0.66 |
Taiwan Weighted | 9,054.20 | 12.44 | 0.14 |
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