The Asian markets concluded the Monday’s trade mostly in green; Japanese stocks retreated as several financial and technology firms pulled back from strong recent advances, while mainland Chinese shares edged higher after data showed an improvement in services-sector activity in the country. A privately compiled gauge of China’s services sector remained unchanged in July, showing modest growth. The HSBC China Services Business Activity Index printed at 51.3 for the second month in a row, above the 50 mark signaling growth though at a level HSBC called historically weak. Besides, China Federation of Logistics and Purchasing reported that China’s official non-manufacturing Purchasing Managers’ Index, a gauge of business activity in the service sector, rose in July to 54.1 from 53.9 in June. The upbeat data came after figures released earlier indicating a surprising expansion in manufacturing activity, adding to signs that growth in the world’s second-largest economy is stabilizing.
Indonesia’s economy in the second quarter expanded at the slowest pace in almost three years, compounding concerns on the Southeast Asian nation as investments ease, inflation accelerates and the currency slumps. Gross domestic product rose 5.81% in the April-June period from a year earlier, the Central Statistics Agency (BPS) reported. GDP hasn’t been that slow since the 5.8% expansion rate in the third quarter of 2010. Private consumption growth slowed slightly to 5.06%, which was lower than the first quarter’s 5.17%.
South Korea’s worst property-market slowdown since 2004 threatens to limit the economy’s rebound, as the government’s stop-go policies to stimulate the housing market fail to secure any sustained revival. Indonesia's Jakarta Composite is closed for a week till August 9 on account of Public Holiday 'Id-ul-Fitr'.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2050.48 | 21.06 | 1.04 |
Hang Seng | 22222.01 | 31.04 | 0.14 |
Jakarta Composite | - | - | - |
KLSE Composite | 1785.14 | 2.63 | 0.15 |
Nikkei 225 | 14258.04 | -208.12 | -1.44 |
Straits Times | 3241.79 | -12.34 | -0.38 |
KOSPI Composite | 1916.22 | -7.16 | -0.37 |
Taiwan Weighted | 8138.63 | 38.75 | 0.48 |