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Asia’s Stock Markets Were Mixed As A Result Of The Fed’s Minutes, Which Indicated That More Rate Increases Would Be Coming

While investors analyzed the U.S. Federal Reserve’s minutes, which revealed that members remain dedicated to tackling inflation with rate hikes, Asia-Pacific markets were neutral on Thursday.

After nearly a year of rate increases, the Bank of Korea kept interest rates steady at 3.5%, which was in line with forecasts. The Kospi in South Korea closed Thursday 0.9% higher, at 2,439.09, and Samsung Electronics gained roughly 1.5% as a result of the move. At 783.28, the Kosdaq likewise closed 0.6% higher.

In observance of the Emperor’s birthday, Japanese markets were closed on Thursday.

In Australia, the S&P/ASX 200 dropped 0.4% to settle at 7,285.4. The Hang Seng index in Hong Kong fell by 0.3% while the Hang Seng Tech index rose by 1.1%.

The Shanghai Composite dropped 0.11% to conclude at 3,287.47, while the Shenzhen Component in mainland China finished 0.13% lower at 11,884.3.

TICKER COMPANY NAME PRICE CHANGE %CHANGE
Nikkei 225 Index *NIKKEI 27104.32 -368.78 -1.34
Hang Seng Index *HSI 20351.35 -72.49 -0.35
S&P/ASX 200 *ASX 200 7285.4 -29.1 -0.4
Shanghai *SHANGHAI 3287.48 -3.67 -0.11
KOSPI Index *KOSPI 2439.09 21.41 0.8
CNBC 100 ASIA IDX *CNBC 100 8189.08 21.53 0.26

The consumer price indices for Hong Kong and Singapore are anticipated to be released; Singapore’s CPI registered an annualized rate of 6.5% for January.

U.S. markets declined overnight, with the S&P 500 particularly notable for recording a fourth straight day of losses.

The Nasdaq Composite defied the trend and increased to close 0.13% higher, while the Dow Jones Industrial Average likewise finished the day lower.

Source (CNBC)

 

 

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