Most of the Asian markets concluded Wednesday’s trade in green. Japan’s Nikkei share average closed at a one-week high after the dollar clawed back ground against the yen but stocks fell in much of Asia after US sales data reinforced expectations that the Federal Reserve will soon pare its stimulus. South Korea shares ended at their highest level in more than two months amid continued bargain hunting by foreign investors for large-cap technology and automobile shares. Foreign investors were net buyers of 360.0 billion won ($322.80 million) worth of stocks, the most since June 28. Hong Kong Exchanges trading was cancelled due to Issuance of Typhoon Signal No. 8.
China’s financial institutions attracted the least foreign equity investment in more than a year in the second quarter amid a slower inflow of foreign capital. The institutions, including banks, brokerages and insurers, attracted a total of $442 million in such investment from April to June, nearly a fourth of the first quarter’s total and the lowest since authorities started compiling the data last year.
Indonesia’s central bank is likely to keep its main interest rate on hold at Thursday’s monthly meeting but some doubt it will be able to avoid another hike in coming months to battle high inflation and help a sliding currency. Since June, the central bank has raised both the benchmark rate and the overnight deposit facility rate, or FASBI, by a total of 75 basis points each to combat inflation expectations from a big fuel price hike and support the rupiah. Indonesia will release its latest balance of payments data on Friday.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2100.14 | -6.02 | -0.29 |
Hang Seng | - | - | - |
Jakarta Composite | 4699.73 | 47.34 | 1.02 |
KLSE Composite | 1793.73 | -1.36 | -0.08 |
Nikkei 225 | 14050.16 | 183.16 | 1.32 |
Straits Times | 3248.66 | 4.54 | 0.14 |
KOSPI Composite | 1923.91 | 10.88 | 0.57 |
Taiwan Weighted | 7951.33 | -34.94 | -0.44 |
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