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Asian markets settle mostly higher on Thursday

28 Jul 2022 Evaluate
Asian markets settled mostly higher on Thursday tracking Wall Street gains overnight after the US Federal Reserve announced a 75-bps interest rate hike, as widely expected, and US Fed Chair Jerome Powell commented he doesn't believe the United States is in a recession, boosted hopes of a slowdown in the pace of interest rate hikes at future meetings. Japanese shares rose despite strengthening of Japanese yen against the US dollar. Moreover, Chinese shares gained ahead of US President Joe Biden's upcoming call with Chinese leader Xi Jinping. Although, Hong Kong shares dropped after the city's central bank raised its base rate by 75 basis points.

Asian Indices

Last Trade               

Change in Points

Change in %   

Shanghai Composite

3,282.586.820.21

Hang Seng

20,622.68-47.36-0.23

Jakarta Composite

6,956.8258.600.85

KLSE Composite

1,491.2020.491.39

Nikkei 225

27,815.4899.730.36

Straits Times

3,220.6515.510.48

KOSPI Composite

2,435.2719.740.82

Taiwan Weighted

14,891.90-29.69-0.20

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MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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