Most of the markets in Asia settled in red on Friday, tracking weakness in Wall Street overnight on concerns about slowing global growth and rising interest rates. Renewed Covid-19 lockdown restrictions in Beijing also weighed on market sentiments. Meanwhile, investors are cautiously awaiting for key US consumer inflation data due later in the day that would guide the US Federal Reserve's policy tightening path. Japanese shares declined after hawkish stance from the European Central Bank pushed global bond yields higher. However, Chinese shares gained sharply on hopes of policy loosening, and after inflation data for May came in largely in line with expectations. The Chinese producer price index for May jumped 6.4% as compared with a year earlier, marking the weakest pace since March 2021. Consumer inflation added 2.1%, unchanged from April.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,284.83 | 45.88 | 1.42 |
Hang Seng | 21,806.18 | -62.87 | -0.29 |
Jakarta Composite | 7,086.65 | -96.18 | -1.34 |
KLSE Composite | 1,493.95 | -15.76 | -1.04 |
Nikkei 225 | 27,824.29 | -422.24 | -1.49 |
Straits Times | 3,181.37 | -27.89 | -0.87 |
KOSPI Composite | 2,595.87 | -29.57 | -1.13 |
Taiwan Weighted | 16,460.12 | -161.22 | -0.97 |
