MoneyWorks4Me

Asian markets conclude Tuesday’s trade mostly in red

10 Dec 2013 Evaluate

The Asian markets barring Jakarta Composite and KLSE Composite concluded Tuesday’s trade in red as a slate of data from China offered a mixed view of economic activity. A series of Chinese data out painted a mixed picture of the economy, with industry moderating its strong growth but retail sales picking up their already robust pace. Industrial output for November rose 10% from a year earlier, slowing from the previous month's 10.3% increase but matching the expectations. Chinese retail sales in November climbed 13.7% from a year earlier, up from the 13.3% rise in October. Today’s data also included urban fixed-asset investment, which was up an annualized 19.9% in the January-November period, slowing from a 20.1% gain for January-October. Fixed-asset investment is seen as an indicator of construction activity in China.

Indonesia outlined new fiscal policies, including an increase in taxes on goods ranging from smartphones to jewelry, in a bid to curb imports and raise revenue as a way to reduce its swelling current account deficit by as much as $4 billion next year.  Japanese Household Confidence rose to a seasonally adjusted annual rate of 42.5, from 41.2 in the preceding month.

Asian Indices

Last Trade

Change in Points

Change in %

Shanghai Composite

2237.49

-0.71

-0.03

Hang Seng

23744.19

-66.98

-0.28

Jakarta Composite

4275.68

61.34

1.46

KLSE Composite

1843.85

1.98

0.11

Nikkei 225

15611.31

-38.90

-0.25

Straits Times

3081.72

-31.92

-1.03

KOSPI Composite

1993.45

-6.93

-0.35

Taiwan Weighted

8443.39

-1.23

-0.01

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