Asian markets settled mostly lower on Wednesday following hawkish comments by the US Federal Reserve. Further, threat of new sanctions on Russia and a worsening Covid situation in China also dented investors' sentiment. Furthermore, strength of US dollar and surging bond yields with expectations of rate hikes by the Fed to cool inflationary pressures also influencing market sentiments. Japanese shares declined ahead of the announcement of fresh sanctions against Russia later today. Investors caution over domestic corporate outlook also weighed on Japanese trade. However, Chinese shares gained marginally despite an extended lockdown in Shanghai and weak data showing activity in China's services sector contracted at the steepest pace in two years in March.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,283.43 | 0.71 | 0.02 |
Hang Seng | 22,080.52 | -421.79 | -1.87 |
Jakarta Composite | 7,104.22 | -44.08 | -0.62 |
KLSE Composite | 1,604.72 | 7.93 | 0.50 |
Nikkei 225 | 27,350.30 | -437.68 | -1.58 |
Straits Times | 3,422.95 | -22.06 | -0.64 |
KOSPI Composite | 2,735.03 | -24.17 | -0.88 |
Taiwan Weighted | 17,522.50 | -103.09 | -0.58 |
