The Asian markets concluded Monday’s trade in red as slowing manufacturing growth weighed on China, while a stronger yen hit Japanese stocks. The International Monetary Fund stated that Indonesia should continue shoring up its economy to better prepare for when the US Federal Reserve starts reducing monetary stimulus. IMF projected that sluggish investment, weaker external demand and higher interest rates mean Indonesia’s economic growth will slow to between 5% and 5.5% this year and next, compared with 6.2% last year. Growth in China’s manufacturing-sector activity slowed to three-month low, initial results from HSBC’s monthly survey showed. The flash version of the December HSBC/Markit China manufacturing Purchasing Managers’ Index eased to 50.5, down from November’s final reading of 50.8.
Japan’s Tankan manufacturing index rose more-than-expected in the last quarter. The Tankan Manufacturing index rose to a seasonally adjusted 16, from 12 in the preceding quarter. Hong Kong’s gross national income rose 4.6% year-on-year to $550.1 billion in the third quarter, while Gross Domestic Product grew 4.7% to $549.7 billion, the Census & Statistics Department reported. Hong Kong’s GNI was larger than its GDP by $400 million, representing a net external primary income inflow of the same amount, and equivalent to 0.1% of GDP in that quarter.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2160.86 | -35.21 | -1.60 |
Hang Seng | 23114.66 | -131.30 | -0.56 |
Jakarta Composite | 4125.96 | -48.87 | -1.17 |
KLSE Composite | 1837.88 | -2.47 | -0.13 |
Nikkei 225 | 15152.91 | -250.20 | -1.62 |
Straits Times | 3053.77 | -12.25 | -0.40 |
KOSPI Composite | 1961.15 | -1.76 | -0.09 |
Taiwan Weighted | 8313.87 | -63.07 | -0.75 |
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