Asian markets ended higher on Thursday as dovish comments by US Federal Reserve chairman Jerome Powell calmed worries around inflation and interest rates. Jerome Powell told lawmakers it might take more than three years to reach the central bank's inflation goals, a sign the Fed plans leave interest rates flat for a long time to come. Further, progress in the roll-out of corona virus vaccines after news that Johnson & Johnson’s one-shot corona virus vaccine appeared safe and effective in trials and paving the way for emergency authorization in the US also boosted market sentiments. Japanese shares settled higher on economic optimism after the Japanese government is considering lifting a state of emergency in five prefectures in central and western parts of the country. Moreover, South Korean shares ended up as foreign and institutional investors turned into net buyers following Wall Street rally overnight, while the Bank of Korea kept its benchmark lending rate flat at a historic low of 0.5% as expected and indicated it would maintain a most accommodative stance in the face of the corona virus pandemic.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,585.05 | 20.97 | 0.59 |
Hang Seng | 30,074.17 | 355.93 | 1.20 |
Jakarta Composite | 6,289.65 | 38.60 | 0.62 |
KLSE Composite | 1,581.54 | 23.99 | 1.54 |
Nikkei 225 | 30,168.27 | 496.57 | 1.67 |
Straits Times | 2,973.54 | 48.96 | 1.67 |
KOSPI Composite | 3,099.69 | 104.71 | 3.50 |
Taiwan Weighted | 16,452.18 | 239.65 | 1.48 |
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