Asian markets ended mostly higher on Wednesday even as global investors remained cautious about the potential impact of new Omicron variant and ahead of the key Fed decision. The US Fed is struggling with the highest levels of inflation and the central bank is widely expected to announce an acceleration of the tapering of its bond-buying program, which was put in place during the pandemic to prop up the US economy. Chinese shares declined amid a deepening property market slump, while signs of slowing Chinese growth and Sino-US tensions also kept market sentiment cautious. New data ranging from new home prices to investment and retail sales suggested slowing growth in the world's second-top economy. Data from the National Bureau of Statistics showed on Wednesday that China's retail sales growth slowed in November and missed expectations. Investment in manufacturing and real estate development grew for the first 11 months of the year from a year ago, but at a slower pace than the January to October period, the data showed. New home prices in China fell for the third month in a row in November, the biggest monthly decline since February 2015 as the downturn in Chinese property sector worsened under Beijing's clampdown.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,647.63 | -13.90 | -0.38 |
Hang Seng | 23,420.76 | -215.19 | -0.91 |
Jakarta Composite | 6,626.26 | 10.62 | 0.16 |
KLSE Composite | 1,482.81 | 1.89 | 0.13 |
Nikkei 225 | 28,459.72 | 27.08 | 0.10 |
Straits Times | 3,114.88 | -6.21 | -0.20 |
KOSPI Composite | 2,989.39 | 1.44 | 0.05 |
Taiwan Weighted | 17,660.10 | 60.73 | 0.35 |
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