Most Asian markets ended lower. Singapore's Straits Times and Hang Seng fell over 2 percent for the week followed by Kospi (down nearly 2 percent) and Shanghai Composite (down 1.44 percent)
Indian market posted half a percent gain last week amid domestic data, including wholesale inflation for the month of May and monetary policy meetings of the European Central Bank and the US Federal Reserve.
Globally, Chinese stocks led the losses, with the benchmark Shanghai Composite plummeting to a 20-month low as investors worried about the economic damage from the trade tensions with the US. Japan's Nikkei closed up 0.5 percent.
The Federal Open Markets Committee hiked its benchmark short term interest rate by a quarter percentage point to 1.75-2 percent in its June policy meeting.
Barring FTSE and Dow Jones all other US and European indices ended modestly higher this week. US stocks underperformed amid worries over a potential global trade war. A dovish ECB led European shares up for the week.
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Most Asian markets ended lower. Singapore's Straits Times and Hang Seng fell over 2 percent for the week followed by Kospi (down nearly 2 percent) and Shanghai Composite (down 1.44 percent).
European stocks also closed mixed for the week as the ECB kept its interest rate steady and announced that it would end its bond-purchase programme by the year-end. However, it signalled that any interest rate hike was still distant.
France's CAC gained a percent and Germany's DAX added 2 percent while Britain's FTSE was down 0.6 percent.
US stocks underperformed on worries over a potential global trade war. For the week-ended June 15, the Nasdaq Composite rose 1.32 percent and the S&P 500 ended flat, while Dow Jones shed a percent.
Gold index ended flat, while silver ended 2.56 percent higher over the week. The dollar lost momentum after FOMC decided to raise interest rates. The dollar index rose 1.36 percent over the week.