Most of the Asian markets barring KLSE Composite and Taiwan Weighted concluded Friday’s trade in red amid partial government shutdown in US. The standoff comes just weeks before a crucial deadline to raise the nation’s borrowing limit - a measure which also must be approved by lawmakers. Shanghai Stock Market was close down on account of National Day and will open for trading on October 8. The Bank of Japan kept its monetary policy unchanged following its meeting, and stated that the economy is recovering moderately. This suggested that no additional monetary policy measures are needed to counter the pain from next year’s sales tax hike. In terms of the inflation outlook, the central bank noted that consumer prices excluding fresh food are in the range of 0.5% to 1%, and that inflation expectations appear to be rising on the whole. The Bank of Japan has set a 2% inflation target, which it aims to reach by 2015.
Malaysia’s trade balance rose more-than-expected last month. The Department of Statistics Malaysia stated that Malaysian Trade Balance rose to 7.10B, from 2.90B in the preceding month. Consumer price inflation in the Philippines rose more-than-expected in the last quarter. The Philippines CPI rose to a seasonally adjusted annual rate of 0.6%, from 0.2% in the preceding quarter. South Korea’s foreign reserves hit another record high last month as the depreciation of the US dollar raised the conversion value of non-dollar assets. Foreign reserves reached a record high of $336.92 billion as of the end of September, up $5.83 billion from a month earlier, according to the Bank of Korea. The reserves posted the largest monthly rise since October 2011 when the figure increased by $7.59 billion.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | - | - | - |
Hang Seng | 23138.54 | -75.86 | -0.33 |
Jakarta Composite | 4389.35 | -29.30 | -0.66 |
KLSE Composite | 1776.56 | 5.19 | 0.29 |
Nikkei 225 | 14024.31 | -132.94 | -0.94 |
Straits Times | 3138.08 | -6.71 | -0.21 |
KOSPI Composite | 1996.98 | -2.49 | -0.12 |
Taiwan Weighted | 8364.55 | 5.53 | 0.07 |
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