Asian markets ended mostly higher on Friday, tracking overnight gains in Wall Street ahead of US inflation data and Fed’s interest rate decision. The US Federal Reserve is widely expected to raise rates by 50 basis points (bps) next week to cool off inflation. Chinese shares gained after the country loosened some its Covid-19 restrictions, while Hong Kong shares climbed as China inflation data came in roughly in line with expectations. Data showing that consumer prices in China were up 1.6%, while producer prices dropped 1.3% year on year in November. Meanwhile, Chinese property developer Sunac China Holdings said it has unveiled plans to restructure more than $9 billion of its offshore debt as it tries to navigate out of the deep crisis engulfing the Chinese real estate sector, also supported market sentiments.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,206.95 | 9.60 | 0.30 |
Hang Seng | 19,900.87 | 450.64 | 2.32 |
Jakarta Composite | 6,715.12 | -89.11 | -1.31 |
KLSE Composite | 1,477.19 | 11.26 | 0.77 |
Nikkei 225 | 27,901.01 | 326.58 | 1.18 |
Straits Times | 3,245.97 | 9.89 | 0.31 |
KOSPI Composite | 2,389.04 | 17.96 | 0.76 |
Taiwan Weighted | 14,705.43 | 152.39 | 1.05 |
