The Asian markets barring Jakarta Composite concluded Friday’s trade in red with a sharp slowdown in China’s economy rattling Asia’s largest stock markets, with Japan and Hong Kong closing for its worst week in nearly two years. Investors are keeping an eye on a vote in Crimea this weekend when citizens will decide whether to stay with Ukraine or join Russia. Indonesia’s rupiah was set for a sixth week of gains, the longest winning streak since April 2011, as overseas investors bought more of the nation’s stocks. Fitch Ratings warned investors to remain cautious on Indonesia’s growth this year on the back of bubble-like symptoms. The credit rating agency added that Indonesia’s inflated property prices in the past three years, compared to its gross domestic product, are showing bubble-like symptoms.
Japan’s industrial production rose to a seasonally adjusted 3.8%, from 4.0% in the preceding month. Singaporean Retail Sales rose to a seasonally adjusted 0.1%, from -5.5% in the preceding month while Singaporean Unemployment Rate remained unchanged at 1.8%, from 1.8% in the preceding quarter. The value and volume of home sales in China fell in the first two months of this year as buying sentiment cooled because local governments late last year unveiled tighter property curbs. The value of new homes sold across the country fell 5% from the same period a year earlier to 598.5 billion yuan ($97.5 billion) between January and February.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2004.34 | -14.77 | -0.73 |
Hang Seng | 21539.49 | -216.59 | -1.00 |
Jakarta Composite | 4878.64 | 152.48 | 3.23 |
KLSE Composite | 1805.12 | -13.74 | -0.76 |
Nikkei 225 | 14327.66 | -488.32 | -3.30 |
Straits Times | 3073.72 | -7.67 | -0.25 |
KOSPI Composite | 1919.90 | -14.48 | -0.75 |
Taiwan Weighted | 8687.63 | -60.16 | -0.69 |
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