Asian equity markets ended mixed on Wednesday even as Federal Reserve Chair Jerome Powell's upbeat economic view bolstered investors' confidence in the world's largest economy. In testimony before the Senate Banking Committee, Powell on Tuesday offered a positive outlook of the US economy and reiterated that gradually raising interest rates is ‘the best way forward’. He also downplayed potential negative fallout from the ongoing US-China trade spat. Japanese shares closed higher at their highest level in more than a month as exporters such as automakers and technology firms got a boost after the dollar hit a six-month high against the yen. Further, Chinese shares ended lower as a weaker yuan pulled down prices of real estate developers and airliners.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,788.44 | -9.69 | -0.35 |
Hang Seng | 28,117.42 | -64.26 | -0.23 |
Jakarta Composite | 5,890.73 | 29.22 | 0.50 |
KLSE Composite | 1,753.07 | 15.79 | 0.91 |
Nikkei 225 | 22,794.19 | 96.83 | 0.42 |
Straits Times | 3,240.50 | 0.86 | 0.03 |
KOSPI Composite | 2,290.11 | -7.81 | -0.34 |
Taiwan Weighted | 10,842.46 | 63.47 | 0.59 |
