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Asian markets end mixed on Thursday

22 Mar 2018 Evaluate

Asian equity markets ended mixed on Thursday after the Federal Reserve announced its widely anticipated decision to raise interest rates by 25 basis points and projected three rate hikes in 2018, citing a strong outlook for US economic growth. Underlying sentiments remained somewhat cautious amid expectations that US president Donald Trump will introduce tariffs on Chinese goods for approximately $50 billion. Japanese shares ended higher in choppy trade as pension funds and retail investors lapped up beaten-down shares, helping offset a strong yen and mixed manufacturing data. The manufacturing sector in Japan continued to expand in March, albeit at a slower pace, the latest survey from Nikkei revealed with a manufacturing PMI score of 53.2, down from 54.1 in February. Meanwhile, Chinese shares ended lower after the People's Bank of China raised its short-term interest rates for the first time this year in reaction to the Fed's rate hike. The central bank lifted its 7-day reverse repo rate by 5 basis points to 2.55 percent from 2.50 percent. This was the first rate action after the appointment of Yi Gang as central bank governor.

Asian Indices

Last Trade           

Change in Points

Change in %

Shanghai Composite

3,263.48

-17.47

-0.53

Hang Seng

31,071.05

-343.47

-1.09

Jakarta Composite

6,254.07

-58.76

-0.93

KLSE Composite

1,876.87

11.07

0.59

Nikkei 225

21,591.99

211.02

0.99

Straits Times

3,491.37

-19.76

-0.56

KOSPI Composite

2,496.02

11.05

0.44

Taiwan Weighted

11,005.84

-5.23

-0.05

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