The Asian markets concluded Tuesday’s trade mostly in red with Indonesia’s currency dropping to the weakest level since March 2009 after a dollar bond sale fell short of its target, while Japanese shares declined from a six-month high. Indonesia Finance Ministry raised less than half of its original $450 million that it targeted through a bond sale, as investors demanded higher yields. Southeast Asia’s largest economy raised $190 million from the sale of the debt that matures in May 2017. Three Bank of Japan policy board members expressed dissent to parts of the central bank’s semiannual outlook report issued in October, minutes of the board’s October 31 board meeting showed, with two of them arguing that the central bank should highlight the downside risks the economy faces.
Home buying sentiment in Shanghai was sluggish last week despite a slight rebound, as sales stayed below a 300,000 square-meter threshold, and supply fell again. Purchases of new homes, excluding government-funded affordable housing, climbed 5.3% from the previous seven-day period to 273,100 square meters in the city, but they stayed below the threshold for the second straight week.
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