Asian equity markets made a mixed closing on Thursday as investors awaited Federal Reserve chair Jerome Powell's second congressional testimony for further insight on inflation and interest rates. Gold prices dipped and the yen firmed up a little bit while oil held mostly steady in Asian trading. Japanese shares closed sharply lower as sentiments were hit by a rout in Wall Street overnight, while the euro’s weakness against the yen hit companies such as precision machinery makers. The manufacturing sector in Japan continued to expand in February, albeit at a slightly slower rate, the latest survey from Nikkei revealed with a manufacturing PMI score of 54.1, down from 54.8 in January. Capital spending in Japan topped expectations to rise 4.3 percent sequentially in the fourth quarter of 2017, while a gauge of consumer confidence weakened unexpectedly in February. Chinese shares ended higher after the latest survey from Caixin showed the country's manufacturing sector expanded at a slightly faster rate in February. The manufacturing PMI rose to 51.6 from 51.5 in January as total new work expanded at a slightly faster pace. Meanwhile, the markets in South Korea remained closed for Independence Movement Day.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,273.76 | 14.35 | 0.44 |
Hang Seng | 31,044.25 | 199.53 | 0.65 |
Jakarta Composite | 6,606.05 | 8.84 | 0.13 |
KLSE Composite | 1,860.86 | 4.66 | 0.25 |
Nikkei 225 | 21,724.47 | -343.77 | -1.56 |
Straits Times | 3,513.85 | -4.09 | -0.12 |
KOSPI Composite | - | - | - |
Taiwan Weighted | 10,785.79 | -29.68 | -0.27 |
