The Asian markets barring Shanghai Composite and Hang Seng concluded Wednesday’s trade in green following remarks from Russian President Vladimir Putin that allayed fears of an imminent military conflict in Ukraine. At the start of China’s annual meeting of its legislature, the National People’s Congress, Premier Li Keqiang stated that the government would keep its economic-growth target at 7.5% in 2014, unchanged from that of 2012 and 2013. The consumer inflation target was set at 3.5%. The world’s second-largest economy grew 7.6% in 2013, its slowest pace since 1999. Robust demand for mid- to high-end properties saw sales of new homes rise in Shanghai last week, but they were below the average weekly sales over the past 12 months. The purchases of new homes rose 13.5 percent weekly to 179,200 square meters during the week. Philippines CPI rose to a seasonally adjusted annual rate of 0.1%, from 0.7% in the preceding quarter while Taiwanese CPI fell to a seasonally adjusted annual rate of -0.05%, from 0.76% in the preceding quarter.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2053.08 | -18.39 | -0.89 |
Hang Seng | 22579.78 | -77.85 | -0.34 |
Jakarta Composite | 4659.17 | 57.89 | 1.26 |
KLSE Composite | 1829.11 | 2.65 | 0.15 |
Nikkei 225 | 14897.63 | 176.15 | 1.20 |
Straits Times | 3116.64 | 11.93 | 0.38 |
KOSPI Composite | 1971.24 | 17.13 | 0.88 |
Taiwan Weighted | 8632.93 | 78.39 | 0.92 |