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Asian markets conclude Friday’s trade in green

11 Oct 2013 Evaluate

All the Asian markets concluded Friday’s trade in green as signs of progress in the US budget stalemate provided relief to markets. The House Republicans stated that they will offer a six-week extension to the nation’s borrowing limit in exchange for negotiations on spending. Japan and Hong Kong were both heading into a long weekend with public holidays on Monday. Bank Indonesia, the central bank, expects lending from commercial banks to slow further this year as consumers and corporations ease demand on the back of a depreciating rupiah and rising inflation. Lending growth expanded 22.2 percent in August from a year earlier, marginally down on July’s 22.3 percent. Japan’s Corporate Goods Price Index fell to a seasonally adjusted annual rate of 2.3%, from 2.4% in the preceding month. The Bank of Japan stated that Japan’s M2 Money Stock remained unchanged at a seasonally adjusted 3.8%, from 3.8% in the preceding month whose figure was revised up from 3.7%.

Chinese households expressed the highest confidence level so far this year in September. The China Wealth Index, compiled by the Bank of Communications to gauge sentiment among Chinese households, rose to 131 in September, up from 120 in July and 128 in May. A reading above 100 reflects optimism, and last month’s reading indicated people’s renewed hopes for a better economic performance. The deputy governor of the People’s Bank of China stated that economic growth in China is expected to be above 7.5 percent this year.

Asian Indices

Last Trade

Change in Points

Change in %

Shanghai Composite

2228.15

37.22

1.70

Hang Seng

23218.32

267.02

1.16

Jakarta Composite

4519.91

33.23

0.74

KLSE Composite

1785.75

9.83

0.55

Nikkei 225

14404.74

210.03

1.48

Straits Times

3179.71

9.80

0.31

KOSPI Composite

2024.90

23.50

1.17

Taiwan Weighted

8349.37

4.64

0.06

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