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Friday, 31 October 2014

Asian markets ended in green on Friday

Asian markets ended in green on Friday, after the Bank of Japan unexpectedly boosted monetary stimulus. The Bank of Japan surprised global financial markets by expanding its massive stimulus spending in a stark admission that economic growth and inflation have not picked up as much as expected after a sales tax hike in April. The jolt from the BOJ, which had been expected to maintain its level of asset purchases, came as the government signaled its readiness to ramp up spending to boost the economy and as the government pension fund, the world’s largest, was set to increase purchases of domestic and foreign stocks. BOJ Governor Haruhiko Kuroda portrayed the decision as a preemptive strike to keep policy on track, rather than an admission that his plan to reflate the long moribund-economy had derailed.
Japanese Housing Starts fell to a seasonally adjusted -14.3%, from -12.5% in the preceding quarter. Singaporean Unemployment Rate fell to 1.9%, from 2.0% in the preceding quarter. Taiwanese GDP rose to 3.78%, from 3.74% in the preceding month while Thai Industrial Production fell to a seasonally adjusted -3.9%, from 2.6% in the preceding month whose figure was revised up from -2.7%. Thai Trade Balance fell to a seasonally adjusted 1.13B, from 2.20B in the preceding month.
Asian IndicesLast TradeChange in PointsChange in %
Shanghai Composite2420.1829.101.22
Hang Seng23,998.06296.021.25
Jakarta Composite5089.5530.700.61
KLSE Composite1855.1512.370.67
Nikkei 22516,413.76755.564.83
Straits Times 3274.2539.941.23
KOSPI Composite1964.435.500.28
Taiwan Weighted8974.7686.690.98

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