Asian markets jump after Powell signals slowing rate hikes

Thursday, 01. December 2022 07:04

Markets in Asia-Pacific jumped on Thursday after US Federal Reserve Chair Jerome Powell signaled the bank could slow the pace of its interest rate hikes from December. Sentiment was further boosted by a decline in China's daily COVID-19 cases and hopes the country could ease lockdowns.

The Nikkei 225 climbed 1.02% at 6:56 am CET. The dollar slumped 1.22% against the yen to go for 136.3930 at 6:57 am CET.

Hong Kong's Hang Seng rallied 1.36% at 6:58 am CET. In mainland China, the Shanghai Composite rose 0.60% at 6:59 am CET and the Shenzhen Composite surged 1.20% at 7:01 am CET.

South Korea's Kospi increased 0.32% at 7:02 am CET and Australia's S&P/ASX 200 closed 0.96% higher.

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Author:
Baha Breaking News (BBN) / NP