Asian equity markets ended mostly in green on Friday, following positive Wall Street close overnight even as investors were still digesting the latest decision by the US Federal Reserve. On Wednesday, the US central bank raised its benchmark interest rate by 25 basis points to between 0.50% and 0.75%, the second rate increase in a decade, and also hinted at three likely rate hikes in 2017, up from two previously. Japanese shares ended higher as the weakening yen helped shares of the country’s exporters. Meanwhile, Chinese policymakers are trying hard to curb capital outflows and spending the foreign exchange reserve to support the yuan, after the Fed's decision to raise rates. The People Bank of China set its currency's mid-point fix at 6.9508, marking the Chinese yuan's lowest point against the dollar since May 2008.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,122.98 | 5.30 | 0.17 |
Hang Seng | 22,020.75 | -38.65 | -0.18 |
Jakarta Composite | 5,231.65 | -22.71 | -0.43 |
KLSE Composite | 1,637.79 | 0.80 | 0.05 |
Nikkei 225 | 19,401.15 | 127.36 | 0.66 |
Straits Times | 2,937.86 | 7.09 | 0.24 |
KOSPI Composite | 2,042.24 | 5.59 | 0.27 |
Taiwan Weighted | 9,326.78 | -33.57 | -0.36 |