Asian markets settle lower on Friday

18 Aug 2023 Evaluate

Asian markets settled lower on Friday tracking Wall Street’s fall overnight, while upbeat US economic data also fuelled fears of further interest rate hikes by the US Federal Reserve. Meanwhile, investors are cautiously awaiting next week's gathering of policymakers at Jackson Hole in Wyoming for clues on the outlook for interest rates. Moreover, lingering worries about the Chinese economy also dampened investor sentiments. Chinese shares declined on fears over contagion from China's property sector crisis. Japanese shares dropped as the yen strengthened marginally versus the dollar.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	3,131.95	-31.79	-1.02
Hang Seng	17,950.85	-375.78	-2.09
Jakarta Composite	6,859.91	-40.63	-0.59
KLSE Composite	1,446.09	-1.89	-0.13
Nikkei 225	31,450.76	-175.24	-0.56
Straits Times	3,173.93	-22.82	-0.72
KOSPI Composite	2,504.50	-15.35	-0.61
Taiwan Weighted	16,381.31	-135.35	-0.83

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