Asian markets settled mostly higher on Friday following Wall Street’s overnight gains, despite the hotter-than-expected US Producer Price Index (PPI) report. Market sentiment improved further as technology shares rebounded after Federal Reserve Chair Kevin Warsh stated at the IMF-World Bank meetings in Bangkok that artificial intelligence is a major force in the global economy. However, Indonesia's Jakarta index crashed more than 13%, marking its steepest one-day decline since the 1998 Asian financial crisis. The sell-off followed an announcement by global index provider MSCI that the country was no longer worthy of ‘emerging market’ status, threatening billions of dollars in capital outflows from Southeast Asia's largest economy.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,716.28 | 8.81 | 0.24 |
Hang Seng | 24,186.83 | 124.11 | 0.52 |
Jakarta Composite | 5,185.10 | -678.68 | -13.59 |
KLSE Composite | 1,607.76 | -15.94 | -0.98 |
Nikkei 225 | 65,324.29 | 898.34 | 1.39 |
Straits Times | 5,415.53 | 12.03 | 0.22 |
KOSPI Composite | 5,668.05 | 113.83 | 2.05 |
Taiwan Weighted | 47,111.26 | 141.39 | 0.30 |
