The Asian markets closed higher on Thursday, after minutes from the Federal Reserve showed growing confidence in the US economy, ramping up the chances of a December interest rate hike. The Bank of Japan maintained its current pace of monetary stimulus, clinging to hopes that an economic recovery is in sight despite soft domestic capital expenditure and challenging global business conditions. The central bank also kept intact its assessment that while exports and output were feeling the pain from weak emerging market demand, Japan’s economy has continued to recover moderately. As widely expected, the BOJ reiterated its pledge to increase base money, or cash and deposits at the central bank, at an annual pace of 80 trillion yen ($650 billion) through purchases of government bonds and risky assets. Japan’s trade balance rose to a seasonally adjusted -0.20T compared to -0.31T in the preceding month whose figure was revised up from -0.36T. Japan’s All Industries Activity Index fell to a seasonally adjusted -0.2% compared to -0.1% in the preceding month whose figure was revised up from -0.2%.
Indonesia’s total outstanding foreign debts grew at a slower pace through the third quarter, with both the government and the private sector reluctant to take on more overseas loans amid a weakening economy. As of the end of September, total outstanding foreign debts in Indonesia stood at $302.4 trillion, up by 2.7 percent from the same period last year. That compares to 6.2 percent year-on-year growth at the end of June, when foreign debt stood at $304.5 trillion.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,617.06 | 48.59 | 1.36 |
Hang Seng | 22,500.22 | 311.96 | 1.41 |
Jakarta Composite | 4,518.94 | 21.03 | 0.47 |
KLSE Composite | 1,660.06 | 3.56 | 0.21 |
Nikkei 225 | 19,859.81 | 210.63 | 1.07 |
Straits Times | 2,919.83 | 33.75 | 1.17 |
KOSPI Composite | 1,988.91 | 26.03 | 1.33 |
Taiwan Weighted | 8,477.20 | 136.73 | 1.64 |
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