Asian equity markets ended mostly higher on Wednesday, as investors remained wary ahead of the vote on Britain's possible exit from the European Union. Chinese shares ended higher, as Federal Reserve Chair Janet Yellen played down the risk of a US recession in her testimony before Congress and the People's Bank of China said it would allow qualified foreign companies to issue shares on the mainland. However, Japanese shares lost ground with the dollar's weakness following cautious comments by Yellen on Capitol Hill dented the outlook for exporters' profitability. Yellen said a cautious approach on interest rates remains appropriate amid considerable uncertainty about the economic outlook. Yellen suggested that the Fed will need to see an improvement in the labor market before considering another rate hike.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,905.03 | 26.48 | 0.92 |
Hang Seng | 20,795.12 | 126.68 | 0.61 |
Jakarta Composite | 4,891.33 | 12.62 | 0.26 |
KLSE Composite | - | - | - |
Nikkei 225 | 16,065.72 | -103.39 | -0.64 |
Straits Times | 2,794.33 | 4.88 | 0.17 |
KOSPI Composite | 1,992.58 | 9.88 | 0.50 |
Taiwan Weighted | 8,716.25 | 31.40 | 0.36 |