Most of the Asian markets barring KLSE Composite concluded Monday’s trade in red as budget gridlock in Washington which shut down the US government now threatens to trigger a devastating debt default. Shanghai Stock Market was closed on account of National Day and will be open for trading on October 8. The World Bank cut its growth forecast for developing economies in East Asia and the Pacific region as a whole in 2013 to 7.1% from the previous forecast of 7.8%. The World Bank expects the Chinese economy to expand by 7.5% this year, down from its April forecast of 8.3% and below the International Monetary Fund’s most recent forecast of 7.75%. China’s 2014 growth is estimated at 7.7%, the World Bank stated, down 0.3% point from the previous prediction.
Japan’s index of leading economic indicators rose less-than-expected last month. The Cabinet Office stated that Japan’s index of leading economic indicators rose to a seasonally adjusted 106.5, from 107.7 in the preceding month whose figure was revised down from 107.8. Taiwan’s trade balance fell more-than-expected last month to a seasonally adjusted annual rate of 2.35B, from 4.59B in the preceding month. Consumer price inflation in Taiwan rose more-than-expected in the last quarter. The National Statistics Taiwan reported that Taiwanese CPI rose to a seasonally adjusted annual rate of 0.83%, from -0.79% in the preceding quarter.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | - | - | - |
Hang Seng | 22973.95 | -164.59 | -0.71 |
Jakarta Composite | 4374.96 | -14.39 | -0.33 |
KLSE Composite | 1776.82 | 0.26 | 0.01 |
Nikkei 225 | 13853.32 | -170.99 | -1.22 |
Straits Times | 3136.59 | -1.49 | -0.05 |
KOSPI Composite | 1994.42 | -2.56 | -0.13 |
Taiwan Weighted | 8333.66 | -30.89 | -0.37 |
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