Asian markets settled higher on Friday, tracking Wall Street gains overnight as investors digested US Federal Reserve Chair Jerome Powell’s hawkish comments on interest rate hikes to combat runaway inflation. Chinese shares ended up after data showed China’s consumer inflation came in at 2.5% in August, lower than the 2.7% recorded in July. Japanese shares gained even as the supersized interest rate hike by the European Central Bank and its commitment to hike rates aggressively to fight inflation. Meanwhile, South Korean markets were closed for Chuseok fall harvest holiday and Taiwan markets were closed for Mid-Autumn festival holiday.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,262.05 | 26.46 | 0.82 |
Hang Seng | 19,362.25 | 507.63 | 2.69 |
Jakarta Composite | 7,242.66 | 10.64 | 0.15 |
KLSE Composite | 1,496.53 | 1.80 | 0.12 |
Nikkei 225 | 28,214.75 | 149.47 | 0.53 |
Straits Times | 3,262.95 | 29.34 | 0.91 |
KOSPI Composite | - | - | - |
Taiwan Weighted | - | - | - |