The Asian equity markets ended in green on Friday, on improving risk appetite globally as minutes from Federal Reserve’s latest meeting further eroded expectations of a near-term US rate hike. South Korea and Taiwan Stock Exchange was closed today on account of holiday. Japan’s Economics Minister Akira Amari stated that the country’s economy remained in a recovery trend although weakness was observed in some areas. Amari added that he hoped discussions between the government and private sector kicking off later this month would spur corporate capital spending and help sustain a moderate economic recovery. Japan’s Economy Watchers Current Index fell to a seasonally adjusted 47.5, from 49.3 in the preceding month. China’s retail sales growth slowed during the week-long National Day Holiday, adding to concerns about weakness in the world’s second largest economy. Revenues of retailers and catering firms grew 11% to 1.08 trillion yuan ($170.2 billion) during the October 1-7 ‘Golden Week’ holiday, a decline from the 12.1% growth in the same year-ago period. As China shifts to a new growth model, the International Monetary Fund chief Christine Lagarde has cautioned that this transformation of the world’s second largest economy is expected to be bumpy and not a smooth ride.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,183.15 | 39.80 | 1.27 |
Hang Seng | 22,458.80 | 103.89 | 0.46 |
Jakarta Composite | 4,589.34 | 97.91 | 2.18 |
KLSE Composite | 1,706.54 | 14.34 | 0.85 |
Nikkei 225 | 18,438.67 | 297.50 | 1.64 |
Straits Times | 2,998.50 | 51.47 | 1.75 |
KOSPI Composite | - | - | - |
Taiwan Weighted | - | - | - |