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Asian markets conclude Tuesday’s trade on mixed note

07 Jan 2014 Evaluate

The Asian markets concluded Tuesday’s trade on a mixed note as the region recovered from a bruising start to the year, though yen strength continued to weigh on Japanese shares. China’s dismal start of the year comes amid disappointing economic data relating to activity in both manufacturing and services, compounded by the resumption of domestic initial public offerings. More economic data are on the way from China, with trade numbers due on Wednesday and inflation figures on Thursday. New home purchases in Shanghai fell for the second week but the average price continued to rise amid robust sales in the mid- to high-end sector. Sales of new homes, excluding government-subsidized affordable housing, shed 7.5 percent last week to 222,500 square meters.

Indonesia’s rupiah fell to the lowest level since 2008 on concern a foreign-currency shortage in local markets will worsen as the Federal Reserve cuts stimulus. Indonesia posted a narrower budget deficit last year as the government spent less than targeted, giving a break on Southeast Asia’s largest economy amid declining exports and slowing investment. The nation recorded for 2013 a budget deficit of Rp 209.5 trillion ($17 billion), or 2.2 percent of gross domestic product, compared to 2.4 percent of GDP as targeted in last year’s revised state budget. Taiwanese CPI fell to a seasonally adjusted annual rate of 0.33%, from 0.67% in the preceding quarter while the country’s Trade Balance fell to a seasonally adjusted annual rate of 1.41B, from 3.51B in the preceding month.

Asian Indices

Last Trade

Change in Points

Change in %

Shanghai Composite

2047.32

1.61

0.08

Hang Seng

22712.78

28.63

0.13

Jakarta Composite

4175.81

-27.00

-0.64

KLSE Composite

1825.11

-4.07

-0.22

Nikkei 225

15814.37

-94.51

-0.59

Straits Times

3120.88

-2.94

-0.09

KOSPI Composite

1959.44

6.16

0.32

Taiwan Weighted

8512.30

12.29

0.14

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