Asian markets end higher on Wednesday

16 Mar 2022 Evaluate

Asian markets ended higher on Wednesday following a senior Chinese official said Beijing would provide more support for the slowing economy. Further, Sentiments were also supported by a retreat in commodity prices and hopes for a possible diplomatic solution to end the war in Ukraine. Ukrainian President said that the positions of Ukraine and Russia at peace talks were sounding more realistic but more time was needed.  Meanwhile, Investors also awaited a widely anticipated rate decision by the U.S. Federal Reserve later in the day amid the Russia-Ukraine crisis. The U.S. central bank likely to raise its key short-term rate by 0.25 percentage points, marking the first increase since 2018. South Korea's Kospi average gained snapping a three-day losing streak as traders tracked the latest geopolitical developments. Electronics, chemical and automobile companies topped the gainers list.

Indices

Last Trade           

Change in Points

Change in %    

Shanghai Composite

3,170.71

106.74

3.48

Hang Seng

20,087.50

1,672.42

9.08

Jakarta Composite

6,992.40

74.21

1.07

KLSE Composite

1,571.32

13.91

0.89

Nikkei 225

25,762.01

415.53

1.64

Straits Times

3,290.90

54.86

1.70

KOSPI Composite

2,659.23

37.70

1.44

Taiwan Weighted

16,940.83

14.77

0.09


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