Asian markets ended mostly lower on Friday as waning expectations of a hefty rate cut by the Fed dampened investor sentiment. Investors pared expectations for aggressive Federal Reserve interest rate cuts after the European Central Bank unexpectedly held rates steady and noted that the risk of recession was relatively low. Japanese shares ended lower as investors elected to book profit on following a weak lead from Wall Street overnight and on mixed earnings reports. Further, Seoul shares closed down as weak earnings, concerns over trade uncertainty with Japan, and ECB President Draghi's less dovish stance dented sentiment. Though, Chinese shares ended higher on expectations that a less-regulated market for initial public offerings (IPOs) and stock trading could help keep China's economy competitive at a time of trade tensions with the US.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,944.54 | 7.18 | 0.24 |
Hang Seng | 28,397.74 | -196.56 | -0.69 |
Jakarta Composite | 6,325.24 | -76.13 | -1.19 |
KLSE Composite | 1,647.96 | -8.62 | -0.52 |
Nikkei 225 | 21,658.15 | -98.40 | -0.45 |
Straits Times | 3,363.76 | -17.50 | -0.52 |
KOSPI Composite | 2,066.26 | -8.22 | -0.40 |
Taiwan Weighted | 10,891.98 | -49.43 | -0.45 |
