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Asian markets end mostly higher on Thursday

26 May 2016 Evaluate

Asian equity markets ended mostly higher on Thursday as gains in oil prices and positive cues from overseas markets outweighed concerns about a slowdown in Chinese growth and prospects of higher interest rates in the US. The yen saw a sudden spike on the eve of G7 summit talks, with leaders of the world's seven major industrial democracies expected to promote monetary, fiscal and structural policies to spur growth in their communique, when the summit ends on Friday. Also, Fed Chair Janet Yellen speaks Friday on the economy at Harvard and her comments could provide further clues about whether the central bank would raise interest rates in June. Chinese shares closed higher to snap a two-day losing streak after falling to 2-1/2 month lows in early trade on growing worries that the economy is losing momentum. The combined profits of China's non-financial state-owned enterprises fell an annual 8.4 percent in the first four months of this year, highlighting the policy changes facing Beijing as it goes through a full-scale economic transformation. Japanese shares ended flat as an early rally fizzled out amid the yen's strength.

Asian IndicesLast Trade             Change in Points

Change in %  

Shanghai Composite2,822.44 7.360.26
Hang Seng20,397.11 29.060.14
Jakarta Composite4,784.56 11.590.24
KLSE Composite1,631.09 0.130.01
Nikkei 22516,772.46 15.110.09
Straits Times2,773.31 6.650.24
KOSPI Composite1,957.06 -3.45-0.18
Taiwan Weighted8,394.12 -2.08-0.02

 

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