Asian markets ended mixed on Thursday after US Federal Reserve Chair Jerome Powell said he believed the world's largest economy is strong enough to handle coming interest-rate hikes, but also noted that a recession is certainly a possibility. Chinese shares gained as Chinese tech companies and automakers jumped on Beijing’s policy support. Reports showing that Beijing is considering extending a purchase tax exemption for new energy vehicles in a bid to boost the auto sector. Additionally, Chinese President Xi Jinping signaled support to the country’s leading payment and fintech firms in the latest indication that Beijing is easing its regulatory crackdown on the sector. Meanwhile, Japanese shares ended almost flat as data showed Japanese factory output grew at its slowest rate in three months.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,320.15 | 52.95 | 1.62 |
Hang Seng | 21,273.87 | 265.53 | 1.26 |
Jakarta Composite | 6,998.27 | 13.96 | 0.20 |
KLSE Composite | 1,431.05 | -0.05 | -- |
Nikkei 225 | 26,171.25 | 21.70 | 0.08 |
Straits Times | 3,092.80 | -0.51 | -0.02 |
KOSPI Composite | 2,314.32 | -28.49 | -1.22 |
Taiwan Weighted | 15,176.44 | -171.31 | -1.12 |
