Asian markets finished in red on Friday, as the fears of a potential global recession spooked after Bank of England surprisingly raised interest rate more than expected, while central banks of Turkey, Sitzerland, and Norway also continued monetary tightening this month to tame the stubborn inflation. The looming warning of Federal Reserve about continued hawkish measures also spurred worries about global economic health. Additionally, hotter than expected Japan inflation figures also rattled investor sentiments. Japan's core inflation excluding food and fuel costs surged to a 42 year high in May pressured Bank of Japan to tighten its monetary policy. The BoJ, however reiterated its plan to continue with the ultra-dovish policy. Meanwhile, markets in China, and Taiwan were closed for the Dragon Boat Festival.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | -- | -- | -- |
Hang Seng | 18,889.97 | -328.38 | -1.74 |
Jakarta Composite | 6,639.73 | -12.53 | -0.19 |
KLSE Composite | 1,390.89 | -3.78 | -0.27 |
Nikkei 225 | 32,781.54 | -483.34 | -1.47 |
Straits Times | 3,191.60 | -30.83 | -0.97 |
KOSPI Composite | 2,570.10 | -23.60 | -0.92 |
Taiwan Weighted | -- | -- | -- |
