Asian markets end mostly in red on Thursday

Asian markets ended mostly in red on Thursday, as a rising yen dragged Japan’s indices lower, ahead of the release of industrial output and inflation data for July. The value of mergers and acquisitions in China hit a record in the first half of this year. The M&A deals, including domestic, outbound and inbound, rose 19% from the same period a year ago to $183 billion, while the number of deals was flat at 2,648. The National Bureau of Statistics stated that China’s industrial profits rose 13.5% in July after climbing 17.9% in June, the fastest pace since September. Hong Kong Retail Sales rose to a seasonally adjusted annual rate of -3.1%, from -6.9% in the preceding month. Philippines GDP rose to a seasonally adjusted annual rate of 6.4%, from 5.6% in the preceding month whose figure was revised down from 5.7%. The latest data bolsters expectations the central bank will follow up on July’s rate hike - the first in three years - as early as next month to stay on top of rising prices.