Most of the Asian markets barring Shanghai Composite concluded Monday’s trade in green after Larry Summers withdrew his name from consideration for Chairman of the Federal Reserve, allaying investor concerns about faster withdrawal of economic stimulus in the world’s biggest economy. Indonesia’s bonds advanced, driving the 10-year yield to a one-month low, and rupiah forwards gained. Nikkei 225 remained closed today on account of ‘Respect for the Aged Day’ occasion while Malaysian market - KLSE Composite remain closed today i.e. September 16, 2013 in conjunction with the Malaysia Day holiday.
China needs to do more to develop private banks and make asset securitization a standard practice as it tries to strengthen its financial system, central bank governor Zhou Xiaochuan stated. The report comes as Beijing moves to tap private capital to head off any need to bail out its banking system for a second time in as many decades, which many already see as inevitable. Besides, faced with a chorus of warnings that China risks choking on bad debts, Beijing is pushing banks to raise private capital in an effort to head off the need for a second government bailout in as many decades
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2231.40 | -4.82 | -0.22 |
Hang Seng | 23252.41 | 337.13 | 1.47 |
Jakarta Composite | 4522.24 | 146.70 | 3.35 |
KLSE Composite | - | - | - |
Nikkei 225 | - | - | - |
Straits Times | 3179.48 | 59.18 | 1.90 |
KOSPI Composite | 2013.37 | 19.05 | 0.96 |
Taiwan Weighted | 8255.34 | 112.86 | 1.39 |
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