Asian markets settle down on Friday
Chinese and Hong Kong shares declined as a slew of Chinese data signalled a further loss of momentum in October
Asian markets settled down on Friday tracking a selloff on Wall Street overnight as investors scaled back expectations of interest rate cuts due to inflation worries and divisions among central bankers about the US economy's health, while investors grew cautious over lofty valuations driven by enthusiasm around artificial intelligence. Chinese and Hong Kong shares declined as a slew of Chinese data signalled a further loss of momentum in October. Moreover, Seoul shares fell even as the US agreeing to lower tariffs on Korean cars and auto parts and setting semiconductor tariff rates ‘no less favourable’ than those applied to Korea's competitors, such as Taiwan.
| Asian Indices | Last Trade | Change in Points | Change in % |
| Shanghai Composite | 3,990.49 | -39.01 | -0.97 |
| Hang Seng | 26,572.46 | -500.57 | -1.85 |
| Jakarta Composite | 8,370.44 | -1.56 | -0.02 |
| KLSE Composite | 1,625.67 | -6.60 | -0.40 |
| Nikkei 225 | 50,376.53 | -905.3 | -1.77 |
| Straits Times | 4,546.07 | -29.84 | -0.65 |
| KOSPI Composite | 4,011.57 | -159.06 | -3.81 |
| Taiwan Weighted | 27,397.50 | -506.06 | -1.81 |
