Asian equity markets ended mostly lower on Thursday, while the dollar strengthened after the US Federal Reserve struck a hawkish tone by signaling another rate hike this year. The Fed also announced that it would begin shrinking its $4.5 trillion balance sheet starting October. The dollar hit a two-month high versus the yen as Fed officials projected one more 25 bps rate hike by the end of the year and the Bank of Japan maintained the status quo in line with market expectations. Chinese shares ended a tad lower as losses in the realty and material sectors overshadowed gains in financials. However, Japanese shares inched higher as the yen eased on the back of a hawkish Federal Reserve. Investors also heaved a sigh of relief as the Bank of Japan kept its monetary policy steady and maintained its upbeat view of the economy, saying that exports have been on an increasing trend. The markets in Indonesia are closed for the Islamic New Year.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,357.81 | -8.18 | -0.24 |
Hang Seng | 28,110.33 | -17.47 | -0.06 |
Jakarta Composite | - | - | - |
KLSE Composite | 1,771.04 | -2.54 | -0.14 |
Nikkei 225 | 20,347.48 | 37.02 | 0.18 |
Straits Times | 3,213.82 | -4.25 | -0.13 |
KOSPI Composite | 2,406.50 | -5.70 | -0.24 |
Taiwan Weighted | 10,578.44 | 59.27 | 0.56 |
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