Asian markets ended mostly lower on Friday, tracking the weak close of Wall Street overnight as hawkish comments from several Federal Reserve officials suggested the Fed would continue to hike interest rates for an extended period. St Louis Fed President James Bullard said that interest rates need to be increased further to between 5% and 7% to cool off inflation. Moreover, concerns over flare-up in Covid-19 cases and potential lockdowns in China also adding more pressure on market sentiments. Japanese shares declined after data showed inflation in the country hit its fastest pace in 40 years in October.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,097.24 | -18.19 | -0.58 |
Hang Seng | 17,992.54 | -53.12 | -0.29 |
Jakarta Composite | 7,082.18 | 37.19 | 0.53 |
KLSE Composite | -- | -- | -- |
Nikkei 225 | 27,899.77 | -30.80 | -0.11 |
Straits Times | 3,272.23 | -13.81 | -0.42 |
KOSPI Composite | 2,444.48 | 1.58 | 0.06 |
Taiwan Weighted | 14,504.99 | -30.24 | -0.21 |
