Asian markets settled mostly lower on Friday due to concerns over the ongoing US banking crisis, despite Janet Yellen’s reassurance on the safety of American deposits. Chinese shares dropped as heavily indebted Evergrande Group announced its long-awaited debt restructuring deal after 2021 collapse. Japanese shares fell after a survey showed manufacturing activity in Japan contracted for a fifth straight month in March as output and new orders remained under pressure. Moreover, Seoul shares declined amid fears that the central banks of UK, Switzerland and Norway increased interest rates to curb inflation. However, some losses were capped after Wall Street’s overnight gains in anticipation that US interest rate hikes might be nearing an end.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,265.65 | -21.00 | -0.64 |
Hang Seng | 19,915.68 | -133.96 | -0.67 |
Jakarta Composite | 6,762.25 | 70.64 | 1.04 |
KLSE Composite | 1,399.70 | -11.28 | -0.80 |
Nikkei 225 | 27,385.25 | -34.36 | -0.13 |
Straits Times | 3,212.64 | -6.36 | -0.20 |
KOSPI Composite | 2,414.96 | -9.52 | -0.39 |
Taiwan Weighted | 15,914.70 | 50.75 | 0.32 |
