Asian equity markets ended mostly in red on Thursday on renewed worries over Donald Trump's America First policies and other protectionist measures like tax cuts. Comments by US Treasury Secretary Steven Mnuchin that he welcomed a weaker currency also added to investors’ worries over the Trump administration's protectionist stance. Chinese shares fell from two-year highs as investors booked some profits after recent strong gains. Further, Japanese shares ended to their lowest level in nearly two weeks as the yen hit a four-month high after the US treasury secretary hailed a ‘weak dollar’ at the World Economic Forum in Davos. Though, Oil and mining stocks outperformed after oil prices hit their highest since December 2014, pushed up after US crude inventories posted a 10th straight week of declines and as the dollar continued to weaken.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,548.31 | -11.16 | -0.31 |
Hang Seng | 32,654.45 | -304.24 | -0.92 |
Jakarta Composite | 6,615.33 | -0.16 | -- |
KLSE Composite | 1,845.86 | 8.82 | 0.48 |
Nikkei 225 | 23,669.49 | -271.29 | -1.13 |
Straits Times | 3,572.62 | -36.62 | -1.01 |
KOSPI Composite | 2,562.23 | 24.23 | 0.95 |
Taiwan Weighted | 11,165.95 | 13.79 | 0.12 |
