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Asian markets settle mostly lower on Friday

16 Dec 2022 Evaluate
Asian markets settled mostly lower on Friday followed the fall in Wall Street overnight on fears of a recession stemming from the Fed's aggressive interest rate hiking cycle. Moreover, hawkish commentaries by global central banks dampened investor sentiments. Japanese shares declined after a survey of manufacturers showed a further contraction in output. Data showed the Jibun Bank Manufacturing PMI Flash fell to 48.8 in early December from 49 in November. The services PMI reading however increased to 51.7 in early December from 50.3 in November. Meanwhile, Chinese shares ended almost flat after the US government slapped restrictions on Chinese companies over their efforts to use advanced technologies to help modernize China’s military.

Asian Indices

Last Trade               

Change in Points

Change in %   

Shanghai Composite

3,167.86-0.79-0.02

Hang Seng

19,450.6782.080.42

Jakarta Composite

6,812.1960.330.89

KLSE Composite

1,478.5411.410.78

Nikkei 225

27,527.12-524.58-1.87

Straits Times

3,240.81-32.94-1.01

KOSPI Composite

2,360.02-0.95-0.04

Taiwan Weighted

14,528.55-205.58-1.40

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MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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