Asian markets close in red on Wednesday

28 Feb 2018 Evaluate

The Asian markets closed in red on Wednesday after hawkish comments from Federal Reserve Chairman Jerome Powell triggered speculation that the Fed might hike rates four times this year instead of the expected three. Chinese shares ended lower as official data showed the manufacturing PMI for February hit a 19-month low. The manufacturing PMI came in at 50.3, missing forecasts for 51.1 and down from 51.3 in January. The non-manufacturing PMI slowed to 54.4 versus forecasts for 55.0 and down from 55.3 in the previous month. Further, Japanese shares fell as the Bank of Japan's decision to trim purchases of super long government bonds helped to lift the yen and a slew of data releases disappointed investors. Japan's industrial production fell at a faster rate than forecast in January and retail sales dropped 1.8 percent month-on-month, while housing starts logged a double-digit decline at the start of the year, separate reports showed. Meanwhile, the markets in Taiwan remained closed for Peace Memorial Day.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	3,259.41	-32.66	-0.99
Hang Seng	30,844.72	-423.94	-1.36
Jakarta Composite	6,597.22	-1.71	-0.03
KLSE Composite	1,856.20	-15.26	-0.82
Nikkei 225	22,068.24	-321.62	-1.44
Straits Times	3,517.94	-22.45	-0.63
KOSPI Composite	2,427.36	-28.78	-1.17
Taiwan Weighted	-	-	-

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