Asian markets ended mostly higher on Friday despite concerns about high inflation and the impact of rising interest rates. Data showed US wholesale prices soared 11 percent in April from a year earlier. US Federal Reserve Chair Jerome Powell reaffirmed that the US central bank is likely to raise interest rates by a half point at each of its next two meetings and isn’t actively considering a 75 basis-point move. Chinese shares jumped as Shanghai said it aimed to reach the Zero-Covid level in areas outside its tightly regulated quarantine zones this month, with sentiment aided by authorities’ frequent pledges to support the second largest economy. Japan's Nikkei benchmark stock index rose 2.64% to 26,427.65.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,084.28 | 29.29 | 0.96 |
Hang Seng | 19,898.77 | 518.43 | 2.68 |
Jakarta Composite | 6,597.99 | -1.85 | -0.03 |
KLSE Composite | 1,544.41 | 5.61 | 0.36 |
Nikkei 225 | 26,427.65 | 678.93 | 2.64 |
Straits Times | 3,191.16 | 25.98 | 0.82 |
KOSPI Composite | 2,604.24 | 54.16 | 2.12 |
Taiwan Weighted | 15,832.54 | 215.86 | 1.38 |
