Asian markets ended mixed on Tuesday on anxiety about interest rate hikes and a possible economic slowdown in the world’s largest economy. Last week’s US jobs report raised expectations of continued tightening by the US Federal Reserve. Investors are also awaiting Friday’s US consumer price index (CPI) for clues on the interest rate hike path. Meanwhile, the European Central Bank will hand down its policy decision this Thursday, joining global peers to cool off high inflation. Chinese shares gained as easing of more Covid-19 related restrictions in Shanghai and other major cities. Japanese shares rose as a weakening yen boosted export stocks. Bank of Japan Governor Haruhiko Kuroda said a weak yen is beneficial for Japan’s economy if the currency’s moves are not too sharp.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,241.76 | 5.39 | 0.17 |
Hang Seng | 21,531.67 | -122.23 | -0.56 |
Jakarta Composite | 7,141.04 | 44.46 | 0.63 |
KLSE Composite | 1,525.93 | -11.90 | -0.77 |
Nikkei 225 | 27,943.95 | 28.06 | 0.10 |
Straits Times | 3,231.54 | 4.91 | 0.15 |
KOSPI Composite | 2,626.34 | -44.31 | -1.66 |
Taiwan Weighted | 16,512.88 | -93.08 | -0.56 |
