The Asian markets concluded Wednesday’s trade mostly in red as investors turned attention to the US Federal Reserve’s policy meeting later in the day. The World Bank backed its growth target for Indonesia in 2014, but warns the country against possible headwinds from slowing investment. The organization had maintained its economic growth target for Indonesia at 5.3% this year, supported by private consumption and improving exports. Bank Indonesia, the central bank, is estimating a range of 5.5% to 5.9%, from 5.8% last year. In another sign of investor confidence in Indonesia’s bond market, the government managed to raise Rp 10 trillion ($895.8 million) from the sale of treasury bonds and bills. Japan’s All Industries Activity Index rose to a seasonally adjusted 1.0%, from -0.1% in the preceding month while Japan’s trade balance rose to a seasonally adjusted -1.13T, from -1.76T in the preceding month whose figure was revised up from -1.82T.
Shanghai’s economic growth slowed at the start of this year, with industrial production, fixed asset investment and trade all moderating. The industrial production rose 3.8% from a year earlier to reach 502 billion yuan ($81.6 billion) in the first two months. The number of Chinese cities seeing month-on-month price growth declined for another month in February amid continuous easing sentiment among buyers. Excluding government-subsidized affordable housing, prices of new residential properties rose in 57 cities around the country last month.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2021.73 | -3.46 | -0.17 |
Hang Seng | 21568.69 | -14.81 | -0.07 |
Jakarta Composite | 4821.46 | 15.85 | 0.33 |
KLSE Composite | 1817.44 | -3.26 | -0.18 |
Nikkei 225 | 14462.52 | 51.25 | 0.36 |
Straits Times | 3080.75 | -13.09 | -0.42 |
KOSPI Composite | 1937.68 | -2.53 | -0.13 |
Taiwan Weighted | 8689.46 | -42.48 | -0.49 |
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