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Asian markets close mostly in red on Wednesday

22 Jul 2015 Evaluate

Asian markets closed mostly in red on Wednesday following a negative lead from Wall Street and Japanese shares dragged by a stronger yen but Shanghai extended its latest rally to a fifth straight day. Japan’s cabinet is expected to approve by Friday the outline of a 2016/17 budget that will not set any cap on spending requests from ministries, reflecting the priority given to growth over fiscal restraint. The outline of the 2016/17 budget will be based on fiscal guidelines mapped out last month that called for limiting rises in general-account spending for the next three years, but stopped short of setting a binding target. Japan’s government lowered its assessment of industrial output in July as auto makers and electronic parts manufacturers curb output to bring down inventories of finished goods. Japan’s All Industries Activity Index fell to a seasonally adjusted -0.5%, from 0.1% in the preceding month. The Philippines will likely miss its export growth target of 8-10 percent this year after shipments contracted in the first five months of 2015. The exports in May fell 17.4 percent from a year earlier which is the steepest drop since September 2011, with total shipments in the first five months falling 5 percent.


Asian Indices

Last Trade

Change in Points

Change in %

Shanghai Composite

4,026.05

8.37

0.21

Hang Seng

25,282.62

-253.81

-0.99

Jakarta Composite

4,906.69

36.84

0.76

KLSE Composite

1,729.53

-6.66

-0.38

Nikkei 225

20,593.67

-248.30

-1.19

Straits Times

3,359.17

-12.24

-0.36

KOSPI Composite

2,064.73

-18.89

-0.91

Taiwan Weighted

8,918.70

-87.26

-0.97

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