The Asian equity markets ended in red on Wednesday, after disappointing economic data from China stoked worries about whether the world’s second largest economy can meet its year-end growth target. Malaysia and Indonesia stock exchange were closed on account of national holiday. Indonesia’s central bank is expected to keep its benchmark policy rate unchanged at 7.50 percent on Thursday even though the rupiah recently strengthened and the inflation rate has declined. Bank Indonesia (BI) has held its key rate since making a 25 basis-point cut in February, despite the worst economic slowdown since 2009. The Indonesian government is set to announce yet another policy package to boost the economy, this time particularly aimed at solving employment problems.
Singaporean GDP fell to a seasonally adjusted 1.4%, from 1.8% in the preceding quarter. South Korean Unemployment Rate fell to a seasonally adjusted annual rate of 3.5%, from 3.6% in the preceding month. China’s auto market grew moderately in September as it reversed a three-month sales drop on annual basis - a positive sign that it could regain momentum in the fourth quarter following a cut in vehicle purchase tax effective from October 1. Deliveries of passenger cars and commercial vehicles rose 2.1 percent from a year earlier to 2.03 million units last month, the first time sales were above 2 million since March. Chinese PPI remained unchanged at an annual rate of -5.9% compared to the preceding month while Chinese CPI fell to an annual rate of 1.6%, from 2.0% in the preceding month.
Asian Indices Last Trade Change in Points Change in % Shanghai Composite 3,262.44 -30.79 -0.93 Hang Seng 22,439.91 -160.55 -0.71 Jakarta Composite - - - KLSE Composite - - - Nikkei 225 17,891.00 -343.74 -1.89 Straits Times 2,973.85 -11.03 -0.37 KOSPI Composite 2,009.55 -9.50 -0.47 Taiwan Weighted 8,522.51 -45.41 -0.53
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