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12th December 2014 - Asian Market and Economic Update
Major Asian Indexes as of 12th December 2014
Nikkei 17,478.53 (+1.28%)
Hang Seng 23,242.42 (+0.13%)
SSE 2,925.98 (+0.01%)
Markets in Asia were driven higher off a positive Wall Street close and anticipation of good data out of China and Japans elections this weekend.
Chinese indexes were higher today ahead of a host of economic data which should put a more positive spin on the Chinese economy before the New Year.
Retail Sales are expected to be higher than in 2013, Industrial Output is expected to be lower due to the major manufacturers closing during some of November due to the APEC meeting and the Chinese government looking to reduce pollution before the visit. More importantly will be the Fixed Asset Investment data which is forecast to be near its lowest in 13 years as the period between January and November may only see an increase of 15.7% over 2013.
This weekend see's the general elections in Japan. Prime Minister Abe is expected to walk the elections and solidify his parties control for the next session. The PM brought forward elections as a way of making sure his party would be able to continue their current plan and increase stimulus efforts in an attempt to reverse Japans current deflation woes.
The Nikkei 225 managed an upbeat day rising as much as 1.3% after a 3 day losing streak which took over 4% off the index.
As the year closes out both major economies in Asia have made concerted efforts to work towards a better 2015 and to pick up the slack since the Federal Reserve exited its QE program.
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DISCLAIMER The views, opinions, findings, and conclusions or recommendations expressed on this service are those of the author(s) and do not necessarily reflect the views of the Stock Port Associates.All market data within this release is for your general information and enjoys indicative status only. Stock Port Associates does not accept any responsibility for its accuracy or for any use to which it may be put. All share prices and market indexes delayed at least 15 minutes. 52 week high and low values are calculated from close price data.
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