Asian markets fell Thursday on the back of worries over region's economic condition ahead of China's second-quarter growth data tomorrow. Australia's rise in unemployment also pressurized the markets to an extent. However, investors were cautious due surprise rate cut in South Korea and a 50-basis point cut in Brazil, as these rate cuts have negatively impacted banks’ net interest rate income. After weak opening in the morning, Japan's Nikkei Average slipped further, dropping 1.3% after the conclusion of the Bank of Japan's policy meeting, where central bankers decided to keep its monetary policy mainly unchanged, though it did slightly alter its asset purchase program. The bank further decided to reduce the amount of fixed rate loans it offers by ¥5 trillion, and increase the purchase of Treasury-discount bills by the same amount.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,185.49 | 10.11 | 0.46 |
Hang Seng | 19,025.11 | -394.76 | -2.03 |
Jakarta Composite | 3,984.12 | -35.01 | -0.87 |
KLSE Composite | 1,625.49 | -3.96 | -0.24 |
Nikkei 225 | 8,720.01 | -130.99 | -1.48 |
Straits Times | 2,972.04 | -17.27 | -0.58 |
KOSPI Composite | 1,785.39 | -41.00 | -2.24 |
Taiwan Weighted | 7,130.93 | -126.98 | -1.75 |
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