The Asian markets closed in red on Friday while Shanghai Stock Exchange was shut on account of ‘Victory Day’ holiday. Japan’s government offices have requested 102.4099 trillion yen ($852.14 billion) for an annual budget for the next fiscal year from April 2016, the biggest amount ever. The spending requests got a boost from areas such as social security in a fast ageing society and pro-growth policy steps. The requests, to be announced, highlight a challenge for Prime Minister Shinzo Abe’s aim of achieving both economic growth and fiscal consolidation. Indonesian central bank survey indicates that the country’s consumers are more optimistic about the economy, despite fears of higher inflation. Bank Indonesia’s August Consumer Confidence Index, based on a sample of some 4,600 households in 18 cities nationwide, rose by 2.7 points to 112.6 in August from a month earlier. Japan’s Average Cash Earnings rose to a seasonally adjusted 0.6%, from -2.5% in the preceding quarter whose figure was revised down from -2.4%. Malaysian Trade Balance fell to 2.38B, from 7.98B in the preceding month.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | - | - | - |
Hang Seng | 20,840.61 | -94.33 | -0.45 |
Jakarta Composite | 4,415.34 | -17.77 | -0.40 |
KLSE Composite | 1,589.16 | -13.59 | -0.85 |
Nikkei 225 | 17,792.16 | -390.23 | -2.15 |
Straits Times | 2,863.81 | -42.62 | -1.47 |
KOSPI Composite | 1,886.04 | -29.49 | -1.54 |
Taiwan Weighted | 8,000.60 | -95.35 | -1.18 |