The Asian markets barring Nikkei 225 concluded Monday’s trade in green after China published a broad outline for economic reform. Chinese markets had their first opportunity to react to a reform plan that was released by Beijing late Friday. Beijing’s announcement outlined a broad restructuring of the economy, saying that the government would open the financial sector and relax restrictions on investment. In addition, the government pledged to improve the country’s initial-public-offering system, adopting a more market-oriented approach to where companies can list according on their merits. Average prices of new homes in 70 Chinese cities in October rose to another fresh high, as demand for homes remains strong. For the ninth consecutive month, growth in median home prices rose in October from year-ago levels, data released by the National Bureau of Statistics showed, after a turnaround that began in January. Prices were up in 69 of the 70 cities in October, unchanged from the 69 in September.
Thailand’s gross domestic product fell unexpectedly last month to a seasonally adjusted 2.7%, from 2.8% in the preceding month. The unemployment rate in Hong Kong remained unchanged last month. The Census and statistics department stated that Hong Kong Unemployment Rate remained unchanged at a seasonally adjusted 3.3%, from 3.3% in the preceding month. Debt ratings agency Fitch affirmed Indonesia’s debt rating as investment grade, expecting the country’s economy expansion to slow next year as it struggles to narrow the current-account deficit. Fitch maintained Indonesia’s BBB- rating, or the lowest investment grade level. The rating has a stable outlook, which means a sudden downgrade or upgrade is unlikely in the next two years.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2197.22 | 61.39 | 2.87 |
Hang Seng | 23660.06 | 627.91 | 2.73 |
Jakarta Composite | 4393.59 | 58.14 | 1.34 |
KLSE Composite | 1792.39 | 2.52 | 0.14 |
Nikkei 225 | 15164.30 | -1.62 | -0.01 |
Straits Times | 3203.03 | 1.76 | 0.05 |
KOSPI Composite | 2010.81 | 5.17 | 0.26 |
Taiwan Weighted | 8191.46 | 14.34 | 0.18 |
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