Asian stocks closed lower on Friday, the 14th, following the negative tone of Wall Street yesterday, as a new round of “hawkish” comments (in favor of withdrawing stimulus) from Federal Reserve officials (Fed, the central bank) reinforced expectations of imminent monetary tightening in the US. In South Korea, the basic interest rate has returned to pre-pandemic levels.
Leading losses in Asia, the South Korean Kospi index tumbled 1.36% in Seoul today to 2,921.92 points after the local central bank – known as the BoK – raised its key interest rate by 0.25 percentage point, the 1.25%, bringing the rate back to where it was before Covid-19 spread across the world.
In other markets in the region, the Japanese Nikkei fell 1.28% in Tokyo, at 28,124.28 points, while the Hang Seng dropped 0.19% in Hong Kong, at 24,383.32 points, and the Taiex registered a decline of 0.19%. 0.18% in Taiwan, to 18,403.33 points.
In mainland China, the Shanghai Composite was down 0.96% to 3,521.26 points, while the less comprehensive Shenzhen Composite was broadly flat, up 0.02% to 2,435.40 marginally after the release of mixed numbers. of the country’s trade balance, with exports above expectations and imports below expectations.
The bad mood in Asia came after the New York stock exchanges showed widespread losses yesterday, pressured by speeches from Fed officials signaling that the US central bank will have to be more aggressive in tightening its monetary policy, once the jump in US inflation has been longer lasting than anticipated. There is unanimity that the Fed will announce its first rate hike in March.
In Oceania, the Australian stock exchange was also contaminated by the sentiment of risk aversion, and the S&P/ASX 200 lost 1.08% in Sydney, at 7,393.90 points. With information from Dow Jones Newswires.
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