Asian markets end mostly higher on Friday

01 Jul 2016 Evaluate

Asian markets closed mostly higher on Friday as hints of further central bank stimulus helped offset sluggish data out of China and Japan. While Bank of England Governor Mark Carney hinted at fresh economic stimulus measures this summer, the European Central Bank is considering loosening the rules for its bond purchases in response to the Brexit vote. The Bank of Japan's closely-watched Tankan index for big manufacturers' sentiment held steady in the second quarter of 2016, household spending fell for the third straight month in May and the country's core inflation fell in May for the third straight month, making a strong case for fresh policy action. Disappointing Chinese data also added to pressure on Beijing to stimulate the economy by hastening infrastructure investment and urbanization. Chinese shares ended higher as investors digested mixed data and comments from China's central bank late on Thursday that there are no reasons for the long-term weakening of the yuan. Reports showed that growth in China's manufacturing sector stalled in June and Caixin's China June manufacturing PMI hit a four-month low, but the official reading on services sector picked up pace in June, indicating progress in Beijing's bid to rebalance the world's second-largest economy. Japanese shares extended gains for the fifth day despite a firmer yen. Activity in Japan's manufacturing sector continued to contract in June, albeit at a slower pace, the latest survey from Nikkei showed on Friday with a manufacturing PMI score of 48.1. Another report from the Cabinet Office showed that Japan's consumer confidence improved more-than-expected in June to the strongest level in five months. Hong Kong’s stock market is closed Friday for the July 1 public holiday to mark the establishment day of the Hong Kong Special Administrative Region.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	2,932.48	2.87	0.10
Hang Seng	-	-	-
Jakarta Composite	4,971.58	-45.07	-0.90
KLSE Composite	1,646.22	-7.86	-0.48
Nikkei 225	15,682.48	106.56	0.68
Straits Times	2,846.37	5.44	0.19
KOSPI Composite	1,987.32	16.97	0.86
Taiwan Weighted	8,738.24	71.66	0.83

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