The Asian markets closed mostly lower on Monday, as weak growth numbers released by Japan kept investors at bay. Japan’s economy slid back into recession in July-September as uncertainty over the overseas outlook hurt business investment, keeping policymakers under pressure to deploy new stimulus measures to support a fragile recovery. A rebound in private consumption and exports offered some hope, the world’s third-largest economy is emerging from the doldrums, despite slowing Chinese demand and the pain households are feeling from rising imported food prices. The world’s third-largest economy shrank an annualized 0.8 percent in July-September.
Chinese President Xi Jinping stated that the country’s economy is predicted to grow by about 7 percent this year, which will continue to contribute as high as about a third to the global growth. Xi Jinping added that China shouldered the responsibility of driving economic growth in times of the world economic hardship. Despite a recent slowdown, China still contributes 30 percent to world economic growth, which means that China still acts as a major world economic powerhouse. Indonesian Trade Balance fell to a seasonally adjusted 1.01B, from 1.02B in the preceding month. Thailand GDP rose to a seasonally adjusted 2.9%, from 2.8% in the preceding month.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,606.96 | 26.12 | 0.73 |
Hang Seng | 22,010.82 | -385.32 | -1.72 |
Jakarta Composite | 4,442.18 | -30.66 | -0.69 |
KLSE Composite | 1,656.00 | -2.91 | -0.18 |
Nikkei 225 | 19,393.69 | -203.22 | -1.04 |
Straits Times | 2,915.73 | -9.95 | -0.34 |
KOSPI Composite | 1,943.02 | -30.27 | -1.53 |
Taiwan Weighted | 8,295.40 | -34.10 | -0.41 |
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