Asian markets settled lower on Friday, tracking overnight losses in Wall Street on continued concerns about elevated inflation and the possibility of global recession following the US Federal Reserve's third straight 75 basis point interest rate hike on Wednesday. Chinese shares declined on growth concerns. Private report slashed its 2023 GDP growth forecast for China to 4.3 percent from 5.1 percent in light of ongoing Covid woes. Other private report downgraded its outlook for China to 4.5 percent from 5.3 percent. Meanwhile, Japanese market was closed for Autumnal Equinox holiday. .
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,088.37 | -20.54 | -0.66 |
Hang Seng | 17,933.27 | -214.68 | -1.18 |
Jakarta Composite | 7,178.58 | -40.33 | -0.56 |
KLSE Composite | 1,424.98 | -14.18 | -0.99 |
Nikkei 225 | -- | -- | -- |
Straits Times | 3,227.10 | -35.97 | -1.10 |
KOSPI Composite | 2,290.00 | -42.31 | -1.81 |
Taiwan Weighted | 14,118.38 | -166.25 | -1.16 |
