Asian Markets with the exception of Singapore ended lower on worries of inflation, interest-rate hikes. Hong Kong’s Hang Seng was the worst performer, shedding over 900 points on plans to raise the stamp duty for equity trading.
Markets in Singapore and India however traded in the green. SGX Nifty gained 0.435 while Strait Times surged 1.31%. Mumbai’s BSE Sensex gained over 250 points.
Overnight, US markets saw a big recovery from lows as Dow Jones recovered from down 390 points to close in the green while Nasdaq recovered over 400 points from lows to close down 65 points.
Federal Chairman Powell reiterated no change in easy money policy till economy stablizes & markets react on the way up with yields softening to close @ 1.34 after hitting 1.37%.
Asian markets opened mixed with the Japanese Nikkei trading in the red after being closed for a holiday on Tuesday. Nikkei closed down 485 points while Korean Kospi shed 2.45%.
Chinese markets also continued their poor performance after reopening last week after holidays. Shanghai Composite ended 2% lower while Shenzhen declined 2.44%.
Hang Seng traded over 3% down. Markets in Australia, New Zealand and South East Asia also ended in the red.
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