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 | 19,450.67 | 82.08 | 0.42 |
Jakarta Composite | 6,812.19 | 60.33 | 0.89 |
KLSE Composite | 1,478.54 | 11.41 | 0.78 |
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 |
