The Asian markets closed mostly in red on Monday, while Shanghai Composite closed in green on expectations Beijing will maintain its market support by buying shares. Producer prices in China fell to a near six-year low in July while consumer inflation remained subdued, signaling the world’s second-largest economy was still facing deflationary pressures and that Beijing has room to further support the sluggish economy. The producer price index (PPI) fell 5.4 percent from a year earlier, compared with an expected 5.0 percent decline. It was the worst reading since October 2009 and the 40th straight month of price falls. Chinese CPI rose to an annual rate of 1.6%, from 1.4% in the preceding month. Chinese Trade Balance fell to 43.03B, from 46.54B in the preceding month. Japan’s Bank Lending rose to a seasonally adjusted annual rate of 2.6%, from 2.5% in the preceding quarter. Japan’s Current Account rose to a seasonally adjusted 1.30T, from 1.64T in the preceding month.
Asian Indices Last Trade Change in Points Change in % Shanghai Composite 3,928.42 184.21 4.92 Hang Seng 24,521.12 -31.35 -0.13 Jakarta Composite 4,748.95 -21.35 -0.45 KLSE Composite 1,654.37 -28.28 -1.68 Nikkei 225 20,808.69 84.13 0.41 Straits Times - - - KOSPI Composite 2,003.17 -7.06 -0.35 Taiwan Weighted 8,466.84 24.55 0.29