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Asian markets close mostly in red on Friday

07 Aug 2015 Evaluate

The Asian markets closed mostly in red on Friday, while Shanghai Composite closed higher on reports that a government agency and Chinese funds are looking to add billions into the stock market. China’s foreign exchange reserves, the world’s largest, fell by $42.5 billion in July to $3.65 trillion, the sharpest monthly drop since March amid signs of capital outflows. China’s slowing economic growth and jitters over the stock market turmoil may be behind the bout of capital flight. Indonesia’s tax revenue growth stagnated in the first seven months of 2015 amid a slowing economy, fostering expectations that the government will need to expand its budget deficit to finance its ambitious infrastructure programs. The property and automotive sectors are expected to boost the economy in the second half of 2015, after Bank Indonesia decided to loosen the lending requirements for purchases of homes, cars and motorcycles. The central bank, in a bid to step up economic growth, recently reduced the minimum down-payment percentages for cars and motorcycles and increased the maximum loan-to-value (LTV) ratio for people buying their first homes. The central bank estimates the economy will grow in the range of 5 to 5.4 percent this year and between 5.4 percent and 5.8 percent next year. Japan’s index of leading economic indicators rose to a seasonally adjusted 107.2, from 106.2 in the preceding month.

Asian Indices

Last Trade

Change in Points

Change in %

Shanghai Composite

3,744.21

82.67

2.26

Hang Seng

24,552.47

177.19

0.73

Jakarta Composite

4,770.31

-36.26

-0.75

KLSE Composite

1,682.65

-11.99

-0.71

Nikkei 225

20,724.56

60.12

0.29

Straits Times

-

-

-

KOSPI Composite

2,010.23

-3.06

-0.15

Taiwan Weighted

8,442.29

-7.27

-0.09

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MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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