The Asian markets barring KOSPI Composite and Nikkei closed in green on Tuesday. Japan’s economy shrank less than expected in the second quarter although capital expenditure fell more than originally forecast, keeping policymakers under pressure to do more to energize the fragile recovery. The world’s third-largest economy shrank an annualized 1.2 percent in April-June, less than the initial estimate of a 1.6 percent contraction. Japanese policymakers are clinging to the hope that companies will use the record profits they earned from a weak yen and lower energy costs to boost wages and investment, generating a positive cycle of rising income and higher spending. Japan’s Economy Watchers Current Index fell to a seasonally adjusted 49.3, from 51.6 in the preceding month. Chinese Trade Balance rose to 60.24B, from 43.03B in the preceding month. Manila-based multilateral lender Asian Development Bank has committed $2.2 billion in loans for Indonesia next year, up 40 percent from this year’s figure, to support the country’s development plan.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,170.45 | 90.03 | 2.92 |
Hang Seng | 21,259.04 | 675.52 | 3.28 |
Jakarta Composite | 4,318.59 | 17.23 | 0.40 |
KLSE Composite | 1,587.12 | 4.27 | 0.27 |
Nikkei 225 | 17,427.08 | -433.39 | -2.43 |
Straits Times | 2,885.32 | 32.91 | 1.15 |
KOSPI Composite | 1,878.68 | -4.54 | -0.24 |
Taiwan Weighted | 8,001.50 | 14.94 | 0.19 |