The Asian markets barring Straits Times concluded Wednesday’s trade in green as tensions over emerging markets eased. Taiwan Weighted remained closed for the trade today. Investors have started eyeing Federal Reserve decision on its stimulus program. Turkey’s central bank aggressively increased overnight lending rate/interest rates at an extraordinary policy meeting billed as a test case for under-pressure emerging markets. The central bank raised its overnight lending rate to 12% from 7.75%, raised its one-week repo rate to 10% from 4.5% and raised its overnight borrowing rate to 8% from 3.5%.
Philippine third-quarter on-year economic growth has been revised down to 6.9% from 7.0% as a result of a slower-than-initially-estimated industry and services sector. GDP growth in the first and second quarters was 7.7% and 7.6%, respectively. South Korean Industrial Production rose to a seasonally adjusted annual rate of 2.6%, from -0.8% in the preceding month whose figure was revised up from -1.3%. Singaporean Unemployment Rate remained unchanged at 1.8%, from 1.8% in the preceding quarter.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2049.91 | 11.40 | 0.56 |
Hang Seng | 22141.61 | 180.97 | 0.82 |
Jakarta Composite | 4417.35 | 75.70 | 1.74 |
KLSE Composite | 1789.23 | 7.98 | 0.45 |
Nikkei 225 | 15383.91 | 403.75 | 2.70 |
Straits Times | 3047.93 | -14.48 | -0.47 |
KOSPI Composite | 1941.15 | 24.22 | 1.26 |
Taiwan Weighted | - | - | - |