Asian markets settled mostly higher on Thursday, with Chinese and Hong Kong shares gained after data showed China's tourism rebounded to pre-Covid-19 levels in the Labour Day holidays. Market sentiments improved further, despite of overnight fall in US shares after the US Federal Reserve hiked interest rates by 25-points and hinted at a potential pause the rate hike cycle ahead. Fed Chair Jerome Powell said inflation remains too high and it is too soon to say rate-hike cycle is over. After the Federal Reserve’s rate hike, the Hong Kong Monetary Authority has raised its base rate by 25 basis points to 5.50% -- its highest since January 2008. Meanwhile, Japanese market was closed on account of Greenery Day holiday.
| Asian Indices | Last Trade | Change in Points | Change in % |
| Shanghai Composite | 3,350.46 | 27.19 | 0.82 |
| Hang Seng | 19,948.73 | 249.57 | 1.27 |
| Jakarta Composite | 6,844.03 | 31.31 | 0.46 |
| KLSE Composite | -- | -- | -- |
| Nikkei 225 | -- | -- | -- |
| Straits Times | 3,269.18 | 7.17 | 0.22 |
| KOSPI Composite | 2,500.94 | -0.46 | -0.02 |
| Taiwan Weighted | 15,609.03 | 55.62 | 0.36 |
