All most all Asian markets concluded Friday’s trade in green; Shanghai Composite Index gained for a fourth straight day, as property developers advanced on signs of easing control on their refinancing. The home prices in China climbed for another month in July, extending strength for the 14th straight month. The average price of new houses in 100 Chinese cities rose 0.87% from June to 10,347 yuan ($1,688) per square meter. That compared with June’s growth of 0.77%. The country earlier had also reported a surprising rise in manufacturing and the government vowed to boost domestic demand to support economic growth. The country’s consumer sentiment fell sharply last month to the lowest level in 18 months, as confidence in household finances and business conditions dropped. The overall monthly measure of China’s consumer confidence dropped to 87.8 in July from 97.3 in June, Market News International, a unit of Deutsche Boerse Group, stated in a report.
Hong Kong shares rose following upbeat US data and after official figures showed a rare increase in Chinese manufacturing activity in July. Indonesia’s economy grew at its slowest rate for almost three years in the second quarter, adding to concerns that one of Asia’s most vibrant economies is losing some of its steam. The statistics bureau announced that GDP growth in the April-June period was 5.81%, it’s lowest since the third quarter of 2010. The latest quarter was the fourth straight one in which the growth pace slipped. The government is targeting 6.3% this year, but the central bank last month trimmed its own forecast to 5.8-6.2% from 6.2-6.6%.
South Korean exports grew far less than expected last month and a measure of manufacturing activity dropped to the lowest in nearly a year, suggesting global demand has yet to turn to underwrite a firm recovery in Asia’s fourth-largest economy. Overseas shipments by the world’s seventh-largest exporter rose by 2.6% in July in annual terms, better than a 1% fall in June but far below the median forecast of 5% growth from a survey.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2029.42 | 0.35 | 0.02 |
Hang Seng | 22190.97 | 102.18 | 0.46 |
Jakarta Composite | 4640.78 | 16.44 | 0.36 |
KLSE Composite | 1782.51 | 4.69 | 0.26 |
Nikkei 225 | 14466.16 | 460.39 | 3.29 |
Straits Times | 3254.13 | 10.84 | 0.33 |
KOSPI Composite | 1923.38 | 2.64 | 0.14 |
Taiwan Weighted | 8099.88 | 43.66 | 0.54 |
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