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Asian markets conclude Wednesday’s trade on mixed note

18 Dec 2013 Evaluate

The Asian markets concluded Wednesday’s trade on a mixed note with Japan’s stocks led Asian markets higher ahead of the conclusion of the US Federal Reserve’s policy meeting. Indonesia’s central bank plans to introduce a one-year currency swap next week as part of broader efforts to deepen the market. Japanese business confidence has soared to a six-year high, the country’s central bank stated, underscoring growing optimism among major companies despite a slowdown in the world’s third-largest economy. The Bank of Japan’s quarterly Tankan survey, which polled more than 10,500 firms, surged to its strongest level since December 2007, with a reading for large manufacturers rising to plus 16 from plus 12 in September. Japanese exports rose 18.4% from a year earlier in November, overshooting expectations for a 17.3% rise. That marked the ninth consecutive month of increase, as manufacturers benefited from a weaker yen brought about by Prime Minister Shinzo Abe’s pro-growth strategies. A recovery in exports is important for the country’s economy ahead of a planned sales-tax increase in April.

China attracted $8.5 billion in foreign direct investment in November--up 2.35% on year, the Ministry of Commerce stated. The figure was more than October’s $8.42 billion which was up 1.24% on year. FDI in the January-November period rose 5.48% on year to $105.5 billion. Non-financial overseas direct investment rose 28.3% on year in the January-November period to $80.2 billion. Besides, the price of homes in big cities continued to rise from a year earlier in November, despite Beijing’s efforts to cool the market. New home prices increased month on month in 66 of the 70 major cities monitored by the government last month, up from 65 in October.

Asian Indices

Last Trade

Change in Points

Change in %

Shanghai Composite

2148.29

-2.79

-0.13

Hang Seng

23143.82

74.59

0.32

Jakarta Composite

4196.28

13.94

0.33

KLSE Composite

1847.50

-3.40

-0.18

Nikkei 225

15587.80

309.17

2.02

Straits Times

3061.78

-5.79

-0.19

KOSPI Composite

1974.63

8.89

0.45

Taiwan Weighted

8349.04

-3.89

-0.05

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