Asian markets up after Fed lifts global sentiment

Thursday, 01. December 2022 03:33

Stock markets in Asia traded with gains on Thursday after the United States Federal Reserve chair fueled optimism with his remarks about a potential slowdown in the pace of interest rate hikes. Traders in Asia could have also been motivated by a decrease in new COVID cases in China, as well as hints by government officials that lockdown measures may be loosened. Meanwhile, manufacturing sector results in China and Japan showed somewhat mixed results.

The Nikkei 225 increased by 1.12% at 3:28 am CET. The Shanghai Composite was up 0.93% at 3:14 am CET and the Shenzhen Composite Index advanced by 1.82% at 3:29 am CET. The Hang Seng was 1.81% higher a minute later. The Kospi in South Korea rose by 0.45% at 3:31 am CET. The S&P/ASX 200 in Australia gained 0.90% concurrently.

The dollar was down 1.02% compared to the Japanese yen at 3:32 am CET, trading for 136.6505.

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Author:
Baha Breaking News (BBN) / MS