Asian markets closed mixed on Wednesday as investors awaited an update on monetary policy from the Federal Reserve. Japanese government stated that drastic wage increases are needed to create a positive economic cycle and stimulate growth. Chief Cabinet Secretary Yoshihide Suga notified that the government will make its utmost efforts to create an environment where small and medium-sized firms can raise wages. Japan’s retail sales fell to a seasonally adjusted annual rate of 0.9%, from 3.0% in the preceding month. China’s central bank stated that it will maintain prudent monetary policy in the second half of this year despite inflation concerns triggered by recent rise in the price of pork, the nation’s staple meat. The People’s Bank of China notified that it will keep the policy orientation and flexibility of multiple monetary tools to ensure that liquidity stays at an appropriate level. The central bank added that it will continue to improve lending structure, lower financing costs, keep the yuan stable, stabilize financial market expectations and boost the real economy. Indonesia’s finance ministry sold 2.93 trillion rupiah ($217.68 million) of Islamic bonds at an auction, surpassing an indicative target of 2.5 trillion rupiah.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,789.17 | 126.17 | 3.44 |
Hang Seng | 24,619.45 | 115.51 | 0.47 |
Jakarta Composite | 4,721.12 | 6.37 | 0.14 |
KLSE Composite | 1,698.99 | -0.71 | -0.04 |
Nikkei 225 | 20,302.91 | -25.98 | -0.13 |
Straits Times | 3,284.00 | 2.91 | 0.09 |
KOSPI Composite | 2,037.62 | -1.48 | -0.07 |
Taiwan Weighted | 8,563.48 | -19.01 | -0.22 |