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Asian equities reach seven-month high as Hong Kong shares play catch up

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MSCI’s Asia-Pacific index climbs 0.56% as Hong Kong’s Hang Seng rises 1.6%, but Japan’s Nikkei falls 0.25% amid thin trading due to Lunar New Year closures

Singapore — Asian equities rose to a fresh seven-month high on Thursday, with Hong Kong shares playing catch-up to other markets’ gains as trade resumed after its three-day Lunar New Year holiday.

After a series of supersized rate hikes last year, the US central bank is now largely expected to raise rates by a smaller 25 basis points next week on signs that inflation is cooling. Boeing on Wednesday reported a wider loss for 2022 on weakness in its defence unit as it warned of further supply chain issues, with the US plane maker missing Wall Street expectations on revenue and earnings per share in the final quarter of the year.

The Japanese yen strengthened 0.32% to 129.19 per dollar, while sterling was last trading at $1.2407, up 0.06% on the day.

Source: Digital Coin News (digitalcoinnews.net)

 

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