SINGAPORE Stocks in the Asia-Pacific region were mixed Thursday morning, as investors watched the market reaction after the US Federal Reserve advanced its rate hike schedule on Wednesday.
In Japan, the Nikkei 225 fell 1.18% in afternoon trading while the Topix index fell 0.75%. South Korea’s Kospi lost 0.38%.
Mainland China stocks were higher in the afternoon, with the Shanghai composite gaining 0.17% while the Shenzhen component was up 0.86%. Hong Kong’s Hang Seng Index rose 0.28%.
The S & P / ASX 200 in Australia fell 0.2%. Employment in Australia increased by 115,000 people from April to May, the country’s Bureau of Statistics said Thursday. This was well above a 30,000 job increase expected by analysts in a Reuters poll.
The largest MSCI index of Asia-Pacific stocks excluding Japan fell 0.49%.
Next Digital negotiation interrupted
Trading in Next Digital shares in Hong Kong was halted on Thursday, according to an exchange notice.
It came after Apple Daily, published by Next Digital, reported Thursday that five of its directors, including the publication’s editor and CEO, have been arrested by Hong Kong police.
Hong Kong police previously said they had arrested five directors of a public limited company for “colluding with a foreign country or with outside elements aimed at endangering national security.”
Fed advances rate hike schedule
The Fed put forward the timing of its next interest rate hike on Wednesday, with the dot plot of individual members’ expectations pointing to two hikes in 2023.
The Fed’s new ‘dot plot’ indicating that the middle FOMC member is now forecasting two Fed rate hikes in 2023, compared to none in the March iteration, represented the hawkish surprise of the Fed’s meeting. June “, Ray Attrill, Head of Foreign Exchange Strategy. to the National Australia Bank, written in a note.
The Dow Jones Industrial Average lost 265.66 points overnight in the US to 34,033.67 while the S&P 500 slipped 0.54% to 4,223.70. The Nasdaq Composite lost 0.24% to 14,039.68.
Currencies and oil
The US dollar index, which tracks the greenback against a basket of its peers, was at 91.396 from levels below 90.5 seen earlier this week.
The Japanese yen was trading at 110.68 per dollar following a recent sharp weakening below 110 against the greenback. The Australian dollar changed hands at $ 0.7627, below the above $ 0.77 levels seen earlier in the week.
Oil prices were lower in the afternoon of trading hours in Asia, with international benchmark Brent crude futures falling 0.6% to $ 73.94 a barrel. US crude futures slipped 0.57% to $ 71.74 per barrel.
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