Asian markets finished mostly in red on Friday, saddled by the jitters over potential recession after subdued economic data from US and China. Shanghai stocks plunged after slowing credit growth in China added doubts to the sluggish economic rebound post covid induced lockdowns. The Chinese index finished lower for the fourth straight session amid growing concerns over weakening demand in the country followed by the subdued inflation data. Meanwhile, Hang Seng retreated in the session as the investor sentiments subdued with the manufacturing sector contraction and factory gate price deflation.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,272.36 | -37.19 | -1.14 |
Hang Seng | 19,627.24 | -116.55 | -0.59 |
Jakarta Composite | 6,707.76 | -48.18 | -0.72 |
KLSE Composite | 1,422.92 | -2.26 | -0.16 |
Nikkei 225 | 29,388.30 | 261.58 | 0.89 |
Straits Times | 3,208.55 | -21.00 | -0.65 |
KOSPI Composite | 2,475.42 | -15.58 | -0.63 |
Taiwan Weighted | 15,502.36 | -12.28 | -0.08 |
