The Asian markets concluded Monday's trade in green, with markets in Japan moving higher despite data showing that the nation’s economy grew less-than-expected in the fourth quarter. Japanese markets gained ground despite a stronger yen amid soft growth data. The Cabinet Office stated that Japan's GDP increased by 0.3 percent in the fourth quarter of 2013 on a quarterly basis. Expanding for the fourth straight quarter, the GDP growth missed forecasts for an increase of 0.7 percent following the 0.3 percent gain in the third quarter.
The record new credit in China bolstered confidence in the world’s second-largest economy. China's equity market rose with the benchmark index erasing this year’s losses, after record new credit in January easing concern that the Chinese economy will slow. According to the data released by the People's Bank of China, the bank lending surged to a four-year high in January, setting off alarm bells as Beijing tries to achieve a delicate balance between maintaining growth and managing risk.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2135.41 | 19.57 | 0.92 |
Hang Seng | 22535.94 | 237.53 | 1.07 |
Jakarta Composite | 4555.37 | 47.32 | 1.05 |
KLSE Composite | 1827.48 | 8.11 | 0.45 |
Nikkei 225 | 14393.11 | 80.08 | 0.56 |
Straits Times | 3069.28 | 30.57 | 1.01 |
KOSPI Composite | 1946.36 | 6.08 | 0.31 |
Taiwan Weighted | 8,519.55 | 5.87 | 0.07 |