Asian markets settle lower on Friday
Chinese shares fell, despite Beijing’s efforts to shield the economy from oil supply shocks through strategic oil reserve
Asian markets settled lower on Friday, tracking Wall Street’s fall overnight. Besides, traders were awaited the release of January’s US Personal Consumption Expenditures (PCE) Price Index, the Federal Reserve’s preferred gauge of inflation, due later in the day. Due to escalating middle east conflict and shipping disruptions, Brent crude oil prices crossed $100 per barrel again and kept investors cautious. Japanese shares declined after Bank of Japan Governor Kazuo Ueda cautioned that the combined impact of a weakening yen and surging oil prices could significantly amplify inflation risks in Japan. Chinese shares fell, despite Beijing’s efforts to shield the economy from oil supply shocks through strategic oil reserves.
| Asian Indices | Last Trade | Change in Points | Change in % |
| Shanghai Composite | 4,095.45 | -33.66 | -0.82 |
| Hang Seng | 25,465.60 | -251.16 | -0.98 |
| Jakarta Composite | 7,137.21 | -224.91 | -3.15 |
| KLSE Composite | 1,698.85 | -12.16 | -0.71 |
| Nikkei 225 | 53,819.61 | -633.35 | -1.16 |
| Straits Times | 4,842.27 | -13.06 | -0.27 |
| KOSPI Composite | 5,487.24 | -96.01 | -1.72 |
| Taiwan Weighted | 33,400.32 | -181.54 | -0.54 |
