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Asian markets settle mostly higher on Tuesday

16 Aug 2022 Evaluate

Asian markets settled mostly higher on Tuesday, tracking Wall Street gains overnight with expectations that moderating inflation would help the US central bank to slow the pace of interest-rate hikes from next monetary policy meetings. Chinese shares gained marginally after the Chinese central-bank said China still needs more growth policies to stabilize its economy following the PBoC’s unexpected cut of key interest rates for the first time since January. Hong Kong shares declined as the audit watchdog widened investigation into China Evergrande Group's financial reporting. Meanwhile, weaker-than-expected Chinese economic data released yesterday too pressurized market sentiments. China’s Retail sales grew by 2.7% in July from a year ago, that’s well below an expected rise of 5.3% and down from 3.1% growth in June. While, Industrial production was up 3.8% year-on-year, but down from 3.9% in June and well below forecasts.

Asian Indices

Last Trade               

Change in Points

Change in %   

Shanghai Composite

3,277.881.790.05

Hang Seng

19,830.52-210.34-1.05

Jakarta Composite

7,133.4540.170.57

KLSE Composite

1,518.7814.770.98

Nikkei 225

28,868.91-2.87-0.01

Straits Times

3,253.79-3.03-0.09

KOSPI Composite

2,533.525.580.22

Taiwan Weighted

15,420.573.220.02


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