Asian markets close in green on Thursday

The Asian equity markets ended in green on Thursday, as weak US economic data could delay Fed rate hike. China’s economic planner stated that consumer prices will continue to growth at a mild pace in coming months, amid investors’ concerns about deflationary pressures in the economy. The National Bureau of Statistics (NBS) data showed that the consumer price index (CPI) rose 1.6% in September from a year earlier, lower than expectations of 1.8% and down from August’s 2%. China’s non-financial outbound direct investment (ODI) increased to 16.5% year-on- year to $87.3 billion in the first three quarters of 2015 as Chinese companies invested more under the Silk Road initiative. Foreign-contracted projects rose to $137.6 billion during the January-September period, up 26.5% from last year. The accomplished turnover climbed 9.2% to $100.8 billion.  Japan’s industrial production fell to a seasonally adjusted -1.2%, from -0.5% in the preceding month.

South Korea’s central bank has cut its economic growth forecast for the fourth time this year and left interest rates at a record low, as a lengthening export slump overshadowed a pick-up in domestic activity. The BOK shaved its economic growth forecast for this year to 2.7%, from the 2.8% it had predicted back in July. It is the fourth reduction since the start of the year, when it had estimated 3.9% growth. The bank also left its key interest rate unchanged at 1.5% -- a decision that had been widely expected following a cut of 25 basis points in June.