Asian markets ended mostly higher on Thursday due to some better-than-expected readings on the world’s largest economy. US Payroll processor ADP reported that private sector employment shot up by 534,000 jobs in November after surging by a revised 570,000 jobs in October. That was slightly above forecasts for a rise in employment of 525,000. While, the ISM’s Manufacturing PMI measure of activity in the US manufacturing sector increased to a reading of 61.1% in November in line with expectations, from 60.8% in October, indicating expansion at a faster rate. Investors were shrugging off Federal Reserve Chair’s hawkish comments on inflation and news that the first United States case of the Omicron variant of the coronavirus had been found in California. However, Japanese shares ended lower on concerns over the impact of the new Omicron corona-virus variant on the global economic recovery. Chinese shares ended unchanged after reports that the country is planning to block companies from going public on foreign stock markets through variable interest entities, but the China Securities Regulatory Commission rejected this report. While, Chinese real estate shares advanced amid signs that Beijing is easing liquidity strains on the cash-strapped property sector.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,573.84 | -3.05 | -0.09 |
Hang Seng | 23,788.93 | 130.01 | 0.55 |
Jakarta Composite | 6,583.82 | 76.14 | 1.17 |
KLSE Composite | 1,501.74 | 4.81 | 0.32 |
Nikkei 225 | 27,753.37 | -182.25 | -0.65 |
Straits Times | 3,092.11 | -6.14 | -0.20 |
KOSPI Composite | 2,945.27 | 45.55 | 1.57 |
Taiwan Weighted | 17,724.88 | 138.89 | 0.79 |
