The Asian equity markets ended mostly in green on Monday, while China shares fell after the world’s second largest economy expanded at its slowest pace since 2009 in the third quarter. China’s economy will maintain stable growth in the future after growth eased to the slowest since the global financial crisis. China’s exports face increased downward pressure and the government needs time to absorb excess capacity in traditional industries. Chinese GDP fell to an annual rate of 6.9%, from 7.0% in the preceding month. Chinese Industrial Production fell to 5.7%, from 6.1% in the preceding month. Chinese Retail Sales rose to an annual rate of 10.9%, from 10.8% in the preceding month while Chinese Fixed Asset Investment fell to a seasonally adjusted 10.3%, from 10.9% in the preceding month. Japan’s economy is expected to have slowed sharply in the third quarter as demand across Asia ebbed, keeping the Bank of Japan and policymakers under pressure to inject more stimulus to revitalize growth. The poll of 21 economists predicted the economy grew at an annualized rate of 0.4% in the third quarter, a significant downgrade from last month’s 1.3% forecast. Hong Kong Unemployment Rate remained unchanged at a seasonally adjusted 3.3% compared to the preceding month.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,386.70 | -4.65 | -0.14 |
Hang Seng | 23,075.61 | 8.24 | 0.04 |
Jakarta Composite | 4,569.84 | 47.96 | 1.06 |
KLSE Composite | 1,718.20 | 1.38 | 0.08 |
Nikkei 225 | 18,131.23 | -160.57 | -0.88 |
Straits Times | 3,024.50 | -6.11 | -0.20 |
KOSPI Composite | 2,030.27 | 0.01 | - |
Taiwan Weighted | 8,631.50 | 26.55 | 0.31 |
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