The Asian markets closed mostly in green on Friday, following a decision by the US Federal Reserve to keep rates unchanged. The International Monetary Fund warned China to improve its economic data, especially on its growth rate, the subject of continued skepticism about its reliability. The debate over the true strength of the Chinese economy has heated up in recent months on mounting signs of slowdown and heavy turmoil in the Chinese stock markets. The Chinese government regularly reports growth in the world’s second-largest economy at 7% and above, a pace that some experts view as inflated. Some Bank of Japan board members suggested that higher government spending is a key variable in lifting price expectations, according to the minutes of the August meeting released. The minutes noted the certain job categories are commanding higher wages, but that the slowdown in China has weighed on exports and a drag on economic prospects. The central bank stated that weak oil prices continue to have a strong effect on the inflation goal. The BoJ kept policy steady and its asset buying program at 80 trillion yen annually. Japan’s trade balance rose to a seasonally adjusted -0.36T, from -0.38T in the preceding month whose figure was revised down from -0.37T.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,097.92 | 11.86 | 0.38 |
Hang Seng | 21,920.83 | 66.20 | 0.30 |
Jakarta Composite | 4,380.32 | 1.94 | 0.04 |
KLSE Composite | 1,669.45 | -12.09 | -0.72 |
Nikkei 225 | 18,070.21 | -362.06 | -1.96 |
Straits Times | 2,879.59 | -16.22 | -0.56 |
KOSPI Composite | 1,995.95 | 19.46 | 0.98 |
Taiwan Weighted | 8,462.14 | 16.64 | 0.20 |
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