Asian markets settled higher on Friday, tracking Wall Street gains overnight and as cooler than expected US inflation data fuelled hopes that the US central bank will cut the size of upcoming interest rate hikes. Japanese shares hit a two-month high as growth in Japan producer prices moderated in October due to easing global inflation. Chinese and Hong Kong shares improved further after Chinese health authorities announced shortening of quarantine period for inbound travellers. While, the Chinese yuan marked its strongest levels in more than a month. Although, data showed that new bank lending in China tumbled more than expected in October from the previous month and broad credit growth also slowed as Covid restrictions weakened economic activity and credit demand.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,087.29 | 51.16 | 1.69 |
Hang Seng | 17,325.66 | 1,244.62 | 7.74 |
Jakarta Composite | 7,089.21 | 122.37 | 1.76 |
KLSE Composite | 1,468.21 | 18.47 | 1.27 |
Nikkei 225 | 28,263.57 | 817.47 | 2.98 |
Straits Times | 3,228.33 | 55.15 | 1.74 |
KOSPI Composite | 2,483.16 | 80.93 | 3.37 |
Taiwan Weighted | 14,007.56 | 503.80 | 3.73 |
