The Asian equity markets ended in green on Thursday, as global equities found breathing space after their worst quarter in four years. Stock markets in China and Hong Kong were closed on account of National Day. China’s Premier Li Keqiang stated that the country will be able to achieve its main economic targets this year, despite increased downward pressure on the economy. He added that the government aims for economic growth of around 7 percent this year. The government has intervened heavily to support the stock market and the yuan currency in a bid to soothe market jitters. Conditions in China’s manufacturing sector deteriorated at the sharpest rate since March 2009, while the country’s services sector barely managed to stay afloat. The monthly Caixin PMI reading, which measures orders and output in the private sector and at small and medium enterprises declined and stood at 47.2 in September, down from 47.3 the previous month. China’s services sector is also seen as a key driver of the country’s growth, particularly with export-driven manufacturing struggling, and the Caixin PMI figure for the sector -- while remaining in positive territory at 50.5 -- represented a sharp fall from 51.5 in August, with new orders growing at their slowest pace for more than a year. South Korean Industrial Production rose to a seasonally adjusted annual rate of 0.3%, from -3.2% in the preceding month whose figure was revised up from -3.3%. Indonesian Inflation fell to a seasonally adjusted 6.83%, from 7.18% in the preceding month.
Asian Indices Last Trade Change in Points Change in % Shanghai Composite - - - Hang Seng - - - Jakarta Composite 4,254.88 30.97 0.73 KLSE Composite 1,633.93 12.89 0.80 Nikkei 225 17,722.42 334.27 1.92 Straits Times 2,801.85 10.96 0.39 KOSPI Composite 1,979.32 16.51 0.84 Taiwan Weighted 8,295.94 114.70 1.40
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