Asian equity markets ended mostly in green on Thursday as the dollar retreated from 14-year highs and investors viewed the minutes of the Federal Reserve's December meeting as less hawkish than expected. The FOMC minutes noted upside risks to forecasts for economic growth as a result of prospects for more expansionary fiscal policies in coming years under President-elect Donald Trump. The minutes also revealed that Fed officials believe they might have to raise interest rates faster than the ‘gradual’ pace to halt a buildup in inflation that may arise if the unemployment rate undershoots the longer-run normal rate. Chinese shares ended higher after a private survey showed growth in China's services sector accelerated to a 17-month high in December, adding to recent signs of stability in the world's second-largest economy. Meanwhile, Japanese shares ended a tad weaker, hit by a stronger yen and some profit booking after the previous session's strong rally. Investors ignored the latest survey from Nikkei showing that activity in Japan's services sector expanded in December at the fastest pace in 11 months.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,165.41 | 6.62 | 0.21 |
Hang Seng | 22,456.69 | 322.22 | 1.46 |
Jakarta Composite | 5,325.50 | 24.32 | 0.46 |
KLSE Composite | 1,659.82 | 12.35 | 0.75 |
Nikkei 225 | 19,520.69 | -73.47 | -0.37 |
Straits Times | 2,954.14 | 32.83 | 1.12 |
KOSPI Composite | 2,041.95 | -3.69 | -0.18 |
Taiwan Weighted | 9,358.14 | 71.18 | 0.77 |
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