Asian stocks ended in red on Friday on renewed worries about rising inflation and higher interest rates after the yield on the 10-year US Treasury note neared its highest levels in four years and the Bank of England hinted at somewhat earlier and deeper-than-expected rate hikes. Japan’s Nikkei share average declined after another torrid day for Wall Street, with oil-related stocks leading the broad declines as crude prices slumped. Chinese shares led regional losses as liquidity conditions tightened before the Chinese New Year break starting next week. Meanwhile, Hang Seng Index tumbled and capped its biggest weekly drop since the depths of the global financial crisis in 2008, as tumult on Wall Street rippled across Asia. Further, South Korea's Kospi average fell on worries about inflation and the possibility that the Federal Reserve will raise interest rates faster than expected.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,129.85 | -132.2 | -4.05 |
Hang Seng | 29,507.42 | -943.85 | -3.1 |
Jakarta Composite | 6,505.52 | -39.11 | -0.6 |
KLSE Composite | 1,819.82 | -19.62 | -1.07 |
Nikkei 225 | 21,382.62 | -508.24 | -2.32 |
Straits Times | 3,377.24 | -38.66 | -1.13 |
KOSPI Composite | 2,363.77 | -43.85 | -1.82 |
Taiwan Weighted | 10,371.75 | -156.77 | -1.49 |
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