The Asian markets closed mostly higher on Tuesday, after a solid rebound for Wall Street and oil prices pushed markets higher, helping them recoup gains suffered in the aftermath of last week’s attacks in Paris. Japanese Prime Minister Shinzo Abe said that the Bank of Japan is unlikely to offer any further monetary easing this year to avoid unwelcome yen falls that would hurt low-income households. Japan’s economy slipping into a technical recession for the second time since Prime Minister Shinzo Abe came to office has led to question the efficacy of his aggressive blend of economic policies dubbed ‘Abenomics’. Indonesian Vice President Jusuf Kalla stated that the central bank, which is about to begin its monthly policy meeting, should cut its benchmark interest rate. The poll conducted showed that Bank Indonesia will hold its rate at 7.50 percent, where it has been since February, in the wake of rising expectations of a rate hike in the United States next month. Indonesian Finance Minister Bambang Brodjonegoro stated that China had agreed to increase a bilateral currency swap agreement with the country to $20 billion from $15 billion. Sales of private homes by developers in Singapore fell 30 percent in October from a year earlier. The Urban Redevelopment Authority showed developers sold 546 units last month, compared with 785 units in October 2014. The figure compares with 341 units sold in September of this year.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,604.80 | -2.16 | -0.06 |
Hang Seng | 22,264.25 | 253.43 | 1.15 |
Jakarta Composite | 4,500.95 | 58.77 | 1.32 |
KLSE Composite | 1,661.53 | 5.53 | 0.33 |
Nikkei 225 | 19,630.63 | 236.94 | 1.22 |
Straits Times | 2,916.78 | 1.05 | 0.04 |
KOSPI Composite | 1,963.58 | 20.56 | 1.06 |
Taiwan Weighted | 8,419.42 | 124.02 | 1.50 |
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