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Asian markets end mostly higher on Thursday

17 Mar 2022 Evaluate

Asian markets ended mostly higher on Thursday following the broadly positive cues overnight from U.S.  markets, following the U.S. Federal Reserve's monetary policy announcement. The U.S. Fed announced its widely expected decision to raise interest rates for the first time since December of 2018 in an effort to combat inflation at 40-year highs. The Fed raised the target range for the federal funds rate by 25 basis points to 0.25 to 0.5 percent. Meanwhile, China’s strong support to stabilize financial markets also increased positive sentiment for Chinese equities while also triggering a risk-on sentiment for equities in the region. Hang Seng was the top gainer with a 7 percent surge. The Japanese benchmark Nikkei 225 ended higher tracking in a big way the gains at Wall Street. The Bank of Japan (BoJ) is expected to keep interest rates on hold in the current monetary policy review concluding on Friday amidst comments from BoJ Governor that Japan was unlikely to see inflation hitting the 2 percent target, despite rising energy costs.

Indices

Last Trade           

Change in Points

Change in %    

Shanghai Composite

3,215.04

44.33

1.40

Hang Seng

21,501.23

1,413.73

7.04

Jakarta Composite

6,964.38

-28.02

-0.40

KLSE Composite

1,590.88

19.56

1.24

Nikkei 225

26,652.89

890.88

3.46

Straits Times

3,322.71

31.81

0.97

KOSPI Composite

2,694.51

35.28

1.33

Taiwan Weighted

17,448.22

507.39

3.00


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