Asian markets ended mixed on Tuesday, with Nikkei
hitting a new seven-year high due to weaker yen and following another
record close on Wall Street. Indonesia’s benchmark stock index gained
for the first time in seven days on speculation President Joko Widodo
will improve regional trade ties and secure enough support from
parliament to push through reforms. Widodo is on a nine-day trip to
attend the Asia Pacific Economic Cooperation summit in Beijing,
prompting speculation he’ll attract more foreign direct investment to
Southeast Asia’s biggest economy. Since starting work on October 27,
Jokowi’s ministers have promised to cut fuel subsidies and overhaul
permits for investors. Jokowi’s biggest test will be in pushing through
plans to increase the price of subsidized fuel.
Japan’s
economy watchers current index fell unexpectedly last month. The
Japan’s Economy Watchers Current Index fell to a seasonally adjusted
44.0, from 47.4 in the preceding month. Japan posted its third
consecutive monthly surplus in September of $8.1 billion, as a weaker
yen lifted the value of overseas investment income, despite continuing
trade deficits while Japanese Household Confidence rose to a seasonally
adjusted annual rate of 38.9. Malaysian Industrial Production fell to a
seasonally adjusted annual rate of 5.4%, from 6.5% in the preceding
month.
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