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Asian markets conclude Monday’s trade on firm note

15 Jul 2013 Evaluate

Asian markets concluded the Monday’s trade on firm note despite the data showed that China’s economic expansion slowed in the second quarter, though it was in line with market estimates. The country’s GDP eased further to 7.5% in the second quarter from 7.7% in the first three months, reflecting a weakening recovery in the world’s second-largest economy. The country’s gross domestic product expanded to 24.8 trillion yuan ($4 trillion) in the first half, up 7.6% from a year earlier. The country’s industrial production expanded 9.3% year on year during the January-June period, down 0.2% points from that in the first three months. Besides, China’s nominal retail sales grew 12.7% year on year to 11.08 trillion yuan ($1.8 trillion) in the first half of 2013. The growth rate picked up by 0.3% point from the first quarter.

Jakarta Composite too concluded the trade in green. A survey from the central bank showed Indonesian consumers were more confident over the current economic conditions thanks to optimism over job availability in the country. The central bank’s survey, which was based on sampling from around 4,600 households in 18 of the nation’s largest cities, showed the Consumer Confidence Index rose by 5.4 points to 117.1 points in June. A level of more than 100 points indicates that consumers are generally optimistic about the economy.

South Korean shares and the Philippine stock too ended the trade in green and investors heaved a sigh of relief as China’s gross domestic product growth was higher than market consensus. Japanese Nikkei remained shut for the trade today on account of ‘Marine Day’ public holiday.

Asian Indices

Last Trade

Change in Points

Change in %

Shanghai Composite

2059.39

19.90

0.98

Hang Seng

21303.31

26.03

0.12

Jakarta Composite

4635.73

2.62

0.06

KLSE Composite

1786.67

1.02

0.06

Nikkei 225

-

-

-

Straits Times

3236.82

0.76

0.02

KOSPI Composite

1875.16

5.18

0.28

Taiwan Weighted

8254.68

34.19

0.42

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