Asian markets end mixed on Friday

09 Jun 2017 Evaluate

Asian equity markets made a mixed closing on Friday as investors largely shrugged off political uncertainty in the UK and looked ahead to the Federal Reserve meeting due next week. British Prime Minister Theresa May's decision to call a snap general election backfired as the Conservatives fell short of 326 needed to command a parliamentary majority. Meanwhile, investors showed little reaction to ECB President Mario Draghi's surprisingly cautious tone in his post-meeting statement and the public testimony of former FBI Director James Comey about his relationship with President Donald Trump and the circumstances that led to his firing. Japanese shares ended higher as index-heavyweight SoftBank soared more than 7 percent after its unit agreed to buy US robotics firm Boston Dynamics from Alphabet. Also, the yen remained weak against the dollar after Bank of Japan Governor Haruhiko Kuroda said there is still a long way to go until the inflation target of 2 percent is achieved. The main reason for the delay in reaching the inflation target is subdued inflation expectations, he noted. Further, Chinese shares rose slightly despite inflation data painting a mixed picture of the world's second-largest economy. Consumer prices in China rose an annual 1.5 percent in May, the National Bureau of Statistics said. That was in line with expectations and up from 1.2 percent in April. The bureau also said that producer prices advanced an annual 5.5 percent, down from 6.4 percent in the previous month.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	3,158.40	8.07	0.26
Hang Seng	26,030.29	-32.77	-0.13
Jakarta Composite	5,675.52	-27.40	-0.48
KLSE Composite	1,788.89	3.32	0.19
Nikkei 225	20,013.26	104.00	0.52
Straits Times	3,254.19	17.14	0.53
KOSPI Composite	2,381.69	18.12	0.77
Taiwan Weighted	10,199.65	-26.13	-0.26

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