Asian markets settle lower on Friday

07 Oct 2022 Evaluate

Asian markets settled lower on Friday amidst Wall Street's weak performance overnight ahead of a key US jobs report due later in the day for further clarity on labour market conditions, while hawkish comments from some Federal Reserve officials also kept investors cautious. Oil extended gains and were set for the biggest weekly gain since March after OPEC+ agreed to tighten global supply with a deal to cut production targets by 2 million bpd. Hong Kong shares declined, with Chinese property developers leading the slide on concerns over their financial health. Japanese shares dropped on worse-than-expected earnings outlook from heavyweights Advanced Micro Devices and Samsung Electronics, adding to headwinds from rising inflation and a weakening yen. Meanwhile, Chinese market was closed for the Golden Week holiday.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	--	--	--
Hang Seng	17,740.05	-272.10	-1.51
Jakarta Composite	7,026.78	-49.84	-0.70
KLSE Composite	1,406.00	-14.43	-1.02
Nikkei 225	27,116.11	-195.19	-0.71
Straits Times	3,145.81	-5.75	-0.18
KOSPI Composite	2,232.84	-5.02	-0.22
Taiwan Weighted	13,702.28	-189.77	-1.37

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