Asian markets settled mostly down on Thursday on tariff related worries and concerns over a potential recession in the United States. Market sentiments weakened further, even after a key US inflation report showed consumer prices increased at a slower-than-expected pace last month and bolstered the case for more Federal Reserve interest-rate cuts this year. Chinese shares dropped amid signs of deepening deflationary pressures in the country. Moreover, Japanese shares declined marginally as the yen strengthened after comments from the Bank of Japan Governor Kazuo Ueda bolstered interest rate hike expectations. Seoul shares fell marginally after the Bank of Korea said in a monetary policy report that US President Donald Trump's escalating trade war could drag on longer than expected and increase the risk of capital outflows while also raising volatility in the US Dollar - Korean Won Exchange Rate.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,358.73 | -13.19 | -0.39 |
Hang Seng | 23,462.65 | -137.66 | -0.59 |
Jakarta Composite | 6,647.42 | -17.63 | -0.27 |
KLSE Composite | 1,510.03 | 25.20 | 1.70 |
Nikkei 225 | 36,790.03 | -29.06 | -0.08 |
Straits Times | 3,837.52 | 4.45 | 0.12 |
KOSPI Composite | 2,573.64 | -1.18 | -0.05 |
Taiwan Weighted | 21,961.68 | -316.68 | -1.44 |
