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Asian markets end mostly in red on Thursday

24 Nov 2016 Evaluate

Asian equity markets ended mostly in red on Thursday on worries about a looming Fed rate hike. Minutes from the Fed's November meeting released on Wednesday showed that policymakers appeared confident on the eve of the US presidential election that the US economy was showing strength to justify an increase in short-term interest rates relatively soon. The dollar firmed up in Asian trading as a slew of upbeat US data and hawkish Fed minutes reinforced investor expectations that the Federal Reserve is on track to raise its benchmark interest rate in December. Chinese shares closed almost flat as the yuan hit an eight-year low after China's central bank weakened the yuan's reference rate to beyond 6.9 to the dollar. Meanwhile, Japanese shares ended higher helped by hopes for better exporters' earnings as the dollar jumped against the yen.

Asian Indices

Last Trade            

Change in Points

Change in %  

Shanghai Composite

3,241.74

0.60

0.02

Hang Seng

22,608.49

-68.20

-0.30

Jakarta Composite

5,115.03

-96.96

-1.86

KLSE Composite

1,624.21

-6.17

-0.38

Nikkei 225

18,333.41

170.47

0.94

Straits Times

2,843.72

4.03

0.14

KOSPI Composite

1,971.26

-16.69

-0.84

Taiwan Weighted

9,152.11

-26.12

-0.28

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