The Asian markets concluded Monday’s trade in red on fears of more tapering ahead of a crucial Federal Reserve policy meeting. Indonesia’s bonds fell, with the 10-year yield rising the most in three weeks, on concern inflation will accelerate and there will be further cuts to US stimulus. In China, the sales of pre-owned homes rose to an eight-year high in Shanghai in 2013, with robust sentiment prevalent in the luxury sector. The purchases of these homes totaled 293,000 units last year, up 58.8 percent from 2012. Shanghai’s gross domestic product expanded 7.7% last year, at the same rate as the national average but faster than its 7.5% rate in 2012. The city registered a 7.6% GDP growth in the fourth quarter of 2013, compared with 7.8% in the third quarter, 7.6% in the second quarter and 7.8% in the first quarter.
Japan’s trade deficit unexpectedly widen in December month with exports growing less than forecast. Exports rose 15.3% from a year earlier while imports grew by 24.7% from December 2012. The resulting trade deficit was 1.302 trillion yen ($12.8 billion), widening from ¥1.293 trillion and above a projected ¥1.256 trillion trade gap predicted. The deficit was the 18th in a row for Japan. South Korean Consumer Confidence rose to 109, from 107 in the preceding month. Hong Kong Trade Balance fell to a seasonally adjusted -54.4B, from -44.6B in the preceding month.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2033.30 | -21.09 | -1.03 |
Hang Seng | 21976.10 | -473.96 | -2.11 |
Jakarta Composite | 4322.78 | -114.56 | -2.58 |
KLSE Composite | 1778.88 | -23.69 | -1.31 |
Nikkei 225 | 15005.73 | -385.83 | -2.51 |
Straits Times | 3042.43 | -33.56 | -1.09 |
KOSPI Composite | 1910.34 | -30.22 | -1.56 |
Taiwan Weighted | 8462.57 | -135.74 | -1.58 |
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