Asian markets ended mostly higher on Wednesday even after US stock indices dropped overnight on a flurry of mixed earnings reports. Seoul shares rose even as the South Korea’s consumer confidence tumbled by the most since the onset of the Covid-19 pandemic. Although, market participants cautiously awaited the Fed's interest-rate decision later in the day. The International Monetary Fund has lowered its 2022 economic forecasts for global growth to 3.2% and for emerging and developing Asia to 4.6% as recession risks looming. Hong Kong shares declined as Hong Kong Financial Secretary Paul Chan Mo-po said commercial banks in Hong Kong will have no choice but to raise prime rates increase, but not at the scale and pace of the US Fed.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,275.76 | -1.68 | -0.05 |
Hang Seng | 20,670.04 | -235.84 | -1.13 |
Jakarta Composite | 6,898.22 | 26.68 | 0.39 |
KLSE Composite | 1,470.71 | 7.02 | 0.48 |
Nikkei 225 | 27,715.75 | 60.54 | 0.22 |
Straits Times | 3,205.14 | 13.02 | 0.41 |
KOSPI Composite | 2,415.53 | 2.57 | 0.11 |
Taiwan Weighted | 14,921.59 | 114.81 | 0.78 |
