Asian markets closed mostly in green on Friday, while markets in many regional trading centers were closed today to mark the ‘Eid’ holidays, including Singapore, Malaysia and Indonesia. Japan will set aside roughly $32 billion in next fiscal year’s state budget for measures to boost the economy’s productivity, underscoring Prime Minister Shinzo Abe’s resolve to end nearly two decades of deflation. The move will be part of Abe’s strategy to lift Japan's long-term growth potential and reflate the economy so that expected rises in tax revenue will help rein in the country’s massive public debt. Indonesia’s central bank governor stated that the country’s rupiah currency is slightly weaker than it should be. He added that at this time the rupiah is slightly undervalued. The rupiah is one of emerging Asia’s worst-performing currencies this year having lost about 7 percent.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,957.35 | 134.18 | 3.51 |
Hang Seng | 25,415.27 | 252.49 | 1.00 |
Jakarta Composite | - | - | - |
KLSE Composite | - | - | - |
Nikkei 225 | 20,650.92 | 50.80 | 0.25 |
Straits Times | - | - | - |
KOSPI Composite | 2,076.79 | -11.10 | -0.53 |
Taiwan Weighted | 9,045.98 | 3.77 | 0.04 |