All the Asian markets concluded Friday’s trade in red as investors grew increasingly cautious by the end of the session. Indonesia’s rupiah led advances in emerging-market currencies this week on speculation that Federal Reserve will delay cutting stimulus. Malaysia is expected to introduce an unpopular consumption tax in its 2014 budget along with other measures to address soaring debt that has raised the specter of a credit downgrade. Malaysia has one of Asia’s highest debt-to-GDP ratios, its budget deficit swelling in recent years on massive populist spending. South Korea’s economic growth maintained the same robust pace in the third quarter as the preceding quarter, beating market expectations and bolstering hopes that Asia’s fourth-largest economy stays on a recovery track. Gross domestic product rose a seasonally adjusted 1.1% in the July-September period from the previous quarter, when the economy grew at the same pace. That is the strongest pace since the first quarter of 2011, when the economy grew 1.3% on quarter.
Japan’s corporate services price index remained unchanged at a seasonally adjusted annual rate of 0.7%, from 0.7% in the preceding month whose figure was revised up from 0.6%. Tokyo’s core CPI, which excludes fresh food costs rose to at an annualized rate of 0.3%, from 0.2% in the preceding month. Japan’s National Core CPI fell to a seasonally adjusted 0.7%, from 0.8% in the preceding month. Singapore's Industrial Production rose to an annual rate of 9.3%, from 4.0% in the preceding month whose figure was revised up from 3.5%.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2132.96 | -31.37 | -1.45 |
Hang Seng | 22698.34 | -137.48 | -0.60 |
Jakarta Composite | 4580.85 | -14.00 | -0.30 |
KLSE Composite | 1817.57 | -1.36 | -0.07 |
Nikkei 225 | 14088.19 | -398.22 | -2.75 |
Straits Times | 3205.24 | -12.71 | -0.39 |
KOSPI Composite | 2034.39 | -12.30 | -0.60 |
Taiwan Weighted | 8346.62 | -67.10 | -0.80 |
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