Asian markets closed in red on Friday, as tumbling commodities prices and weak Chinese manufacturing data aggravate worries about the global economy. Japan’s factory output and household spending probably grew at a tepid rate in June, raising some concerns about a possible economic contraction in the second quarter as exports slumped and consumers tightened purse strings. Annual core consumer inflation was seen grinding to a halt in June, reflecting cheaper oil prices, and keeping the Bank of Japan under pressure as to meet it 2 percent inflation target. China’s factory sector contracted by the most in 15 months in July as shrinking orders depressed output, a preliminary private survey showed, a worse-than-expected result that comes on the heels of a stock market crash which began in June. The flash Caixin/Markit China Manufacturing Purchasing Managers’ Index (PMI) dropped to 48.2, the lowest reading since April last year and a fifth straight month below 50, the level which separates contraction from expansion. South Korean Consumer Confidence rose to 100, from 99 in the preceding month. Singaporean Industrial Production fell to an annual rate of -4.4%, from -1.7% in the preceding month whose figure was revised up from -2.3%.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 4,070.91 | -53.01 | -1.29 |
Hang Seng | 25,128.51 | -270.34 | -1.06 |
Jakarta Composite | 4,856.59 | -46.25 | -0.94 |
KLSE Composite | 1,720.76 | -1.68 | -0.10 |
Nikkei 225 | 20,544.53 | -139.42 | -0.67 |
Straits Times | 3,352.65 | -3.72 | -0.11 |
KOSPI Composite | 2,045.96 | -19.11 | -0.93 |
Taiwan Weighted | 8,767.86 | -23.26 | -0.26 |
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