Asian markets settled mostly lower on Friday, tracking Wall Street’s fall overnight as strong US data coupled with hawkish comments from US Federal Reserve officials fuelled concerns that the US Federal Reserve would further tighten monetary policy to tackle inflation. Meanwhile, Chinese and Hong Kong shares dropped amid concerns over escalating US-China geopolitical tensions, despite China's top leaders declared a ‘decisive victory’ over Covid-19 and claimed the world's lowest fatality rate. China Renaissance Holdings shares plunged after the investment bank said it is unable to contact Bao Fan, the firm's controlling shareholder, as well as chairman, executive director and CEO. Moreover, Japanese shares declined amid uncertainties over the direction of monetary policy under new Bank of Japan Governor Kazuo Ueda, but a weaker yen continued to buoy exporters.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,224.02 | -25.01 | -0.78 |
Hang Seng | 20,719.81 | -267.86 | -1.29 |
Jakarta Composite | 6,895.71 | 0.05 | -- |
KLSE Composite | 1,476.90 | -7.36 | -0.50 |
Nikkei 225 | 27,513.13 | -183.31 | -0.67 |
Straits Times | 3,328.37 | 17.14 | 0.51 |
KOSPI Composite | 2,451.21 | -24.27 | -0.99 |
Taiwan Weighted | 15,479.70 | -70.80 | -0.46 |
