Asian markets settled mostly lower on Tuesday, tracking weak Wall Street overnight on worries over aggressive policy tightening and following hawkish signals from Federal Reserve Vice Chair Lael Brainard. Flare-up in Covid-19 cases in China and escalating tensions between Russia and Ukraine also pressurizing market sentiments. Moreover, Asian Chipmakers plunged after new US measures to limit China’s access to high-end semiconductors with military uses, which wiped off billions from companies’ valuations worldwide. Chinese shares, however, gained marginally by strong earnings outlook from COSCO Shipping Holdings Company and Contemporary Amperex Technology Company.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,979.79 | 5.64 | 0.19 |
Hang Seng | 16,832.36 | -384.30 | -2.23 |
Jakarta Composite | 6,939.14 | -55.26 | -0.79 |
KLSE Composite | 1,386.82 | -19.18 | -1.36 |
Nikkei 225 | 26,401.25 | -714.86 | -2.64 |
Straits Times | 3,105.00 | -2.47 | -0.08 |
KOSPI Composite | 2,192.07 | -40.77 | -1.83 |
Taiwan Weighted | 13,106.03 | -596.25 | -4.35 |
