The Asian markets closed mostly higher on Friday, as investors continue to mull a likely interest rate hike by the US Federal Reserve in December. The survey showed an increasing number of Japanese retail investors are predicting flat growth or recession for the economy over the next 12 months. The survey provided the latest evidence that Prime Minister Shinzo Abe’s unprecedented stimulus to revive the economy is failing to win investors confidence. The Bank of Japan will release a new set of price indicators this month that reconfigures the way price trends are measured as the central bank seeks to show the country’s below-target inflation rate is due to volatile items such as energy. Importantly, a new consumer price index (CPI) will exclude energy costs, which have been falling, but include the costs of items such as processed and imported foods, which have been rising. Chinese consumer confidence dipped just 1 point to 106 in the third quarter as residents in first-tier cities were generally optimistic over employment and personal finance. Consumer expectations for employment were stable at 66 percent, while their sentiment for personal finance shed 1 percentage point to 64 percent, according to the quarterly survey of 3,500 respondents in China.
South Korea’s average disposable household income grew a slim 0.2 percent in real terms in the third quarter over a year earlier, the slowest in nearly two years. It follows a 2.5 percent gain in the second quarter on-year and was the slowest since the fourth quarter of 2013, adding to some doubts that Asia’s fourth largest economy can sustain a fast recovery despite weak exports. The incremental income growth was due in large part to a real 0.6% drop in labour income, which accounts for 67% of the total income, in July-September from a year earlier.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,630.50 | 13.44 | 0.37 |
Hang Seng | 22,754.72 | 254.50 | 1.13 |
Jakarta Composite | 4,561.33 | 42.39 | 0.94 |
KLSE Composite | 1,661.89 | 1.83 | 0.11 |
Nikkei 225 | 19,879.81 | 20.00 | 0.10 |
Straits Times | 2,917.91 | -1.92 | -0.07 |
KOSPI Composite | 1,989.86 | 0.95 | 0.05 |
Taiwan Weighted | 8,465.45 | -11.75 | -0.14 |
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