Asian markets settled mostly lower on Friday, as the market sentiments got dulled with the quicker interest rate hike prospects in the wake of surging inflation rates. Anticipation over hawkish measure of Federal Reserve has prompted to shift investments from high growth shares to value stocks. Benchmark interest rate hike by Bank of Korea also accelerated worries over monetary policy tightening. Japan’s Nikkei was the topper loser among Asian indices due to wary over fresh virus concerns. Japanese technology stocks leading the declines. Tokyo recorded a new four-month high in Covid infections on Thursday.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,521.26 | -34.00 | -0.96 |
Hang Seng | 24,383.32 | -46.45 | -0.19 |
Jakarta Composite | 6,693.40 | 35.04 | 0.53 |
KLSE Composite | 1,555.33 | -14.18 | -0.90 |
Nikkei 225 | 28,124.28 | -364.85 | -1.28 |
Straits Times | 3,281.97 | 24.67 | 0.76 |
KOSPI Composite | 2,921.92 | -40.17 | -1.36 |
Taiwan Weighted | 18,403.33 | -33.60 | -0.18 |
