All the Asian markets concluded Thursday’s trade in green after the Federal Reserve’s surprise move to leave its stimulus measures intact. Indonesian equities surged in early trade, though the advance was later pared while the Philippines added 2.9% and Hong Kong’s Hang Seng too ended the trade in green. South Korean markets are closed from September 18 for the rest of the week for the Chuseok holidays. Trade will resume on September 23. Shanghai Composite and Taiwan Weighted remained closed on account of Mid-autumn Festival. Annual profit growth of China’s state firms gathered speed in the first eight months of 2013 reinforcing views that the world’s second-largest economy is regaining some traction. The state-owned non-financial companies made combined profits of 1.5 trillion yuan ($245.04 billion) for January-August, up 9.7 percent from the same period a year ago, the Ministry of Finance stated.
Japanese exports put in their best performance in three years but were not enough to prevent a record August trade deficit hit by soaring energy costs. The monthly deficit of 960.3 billion yen was well up from 768.4 billion yen a year earlier, marking the worst-ever August deficit and extending a string of shortfalls to 14 months -- tying the previous record set more than three decades ago. But the cheaper yen also pushed up Japan’s exports, with the value of shipments rising 14.7 percent, helped by strong demand for vehicles. The trade data released showed that the value of shipments to the key US market jumped 20.6 percent from a year earlier, while exports to the troubled euro zone were up 18 percent. The exports to China rose 15.8 percent despite a rumbling territorial dispute between Tokyo and Beijing that flared anew last year, denting trade ties. Separately, Japan’s All industries activity index rose more-than-expected last month. The Japanese Ministry of Economy, Trade and Industry stated that Japan’s All Industries Activity Index rose to a seasonally adjusted 0.5%, from -0.6% in the preceding month.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | - | - | - |
Hang Seng | 23502.51 | 385.06 | 1.67 |
Jakarta Composite | 4670.73 | 207.48 | 4.65 |
KLSE Composite | 1792.91 | 21.51 | 1.21 |
Nikkei 225 | 14766.18 | 260.82 | 1.80 |
Straits Times | 3251.78 | 57.93 | 1.81 |
KOSPI Composite | - | - | - |
Taiwan Weighted | - | - | - |
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