The Fort Worth Press - Asian markets mixed as torrid week draws to close

USD -
AED 3.673042
AFN 68.112673
ALL 94.198378
AMD 389.366092
ANG 1.801814
AOA 913.000367
ARS 1003.735016
AUD 1.538462
AWG 1.8025
AZN 1.70397
BAM 1.877057
BBD 2.018523
BDT 119.468305
BGN 1.87679
BHD 0.376794
BIF 2953.116752
BMD 1
BND 1.347473
BOB 6.908201
BRL 5.801041
BSD 0.99976
BTN 84.384759
BWP 13.658045
BYN 3.27175
BYR 19600
BZD 2.015164
CAD 1.39805
CDF 2871.000362
CHF 0.89358
CLF 0.035441
CLP 977.925332
CNY 7.243041
CNH 7.25914
COP 4389.749988
CRC 509.237487
CUC 1
CUP 26.5
CVE 105.825615
CZK 24.326204
DJF 178.031575
DKK 7.158304
DOP 60.252411
DZD 134.221412
EGP 49.650175
ERN 15
ETB 122.388982
EUR 0.95985
FJD 2.27595
FKP 0.789317
GBP 0.798053
GEL 2.740391
GGP 0.789317
GHS 15.795384
GIP 0.789317
GMD 71.000355
GNF 8617.496041
GTQ 7.717261
GYD 209.15591
HKD 7.78445
HNL 25.264168
HRK 7.133259
HTG 131.234704
HUF 395.000354
IDR 15943.55
ILS 3.70204
IMP 0.789317
INR 84.43625
IQD 1309.659773
IRR 42075.000352
ISK 139.680386
JEP 0.789317
JMD 159.268679
JOD 0.709104
JPY 154.770385
KES 129.468784
KGS 86.503799
KHR 4025.145161
KMF 472.503794
KPW 899.999621
KRW 1404.510383
KWD 0.30785
KYD 0.833149
KZT 499.179423
LAK 21959.786938
LBP 89526.368828
LKR 290.973655
LRD 180.450118
LSL 18.040693
LTL 2.95274
LVL 0.60489
LYD 4.882192
MAD 10.057392
MDL 18.23504
MGA 4666.25078
MKD 59.052738
MMK 3247.960992
MNT 3397.999946
MOP 8.015644
MRU 39.77926
MUR 46.850378
MVR 15.460378
MWK 1733.576467
MXN 20.428504
MYR 4.468039
MZN 63.910377
NAD 18.040693
NGN 1696.703725
NIO 36.786794
NOK 11.072604
NPR 135.016076
NZD 1.714237
OMR 0.384846
PAB 0.99976
PEN 3.790969
PGK 4.025145
PHP 58.939038
PKR 277.626662
PLN 4.16352
PYG 7804.59715
QAR 3.646048
RON 4.778204
RSD 112.294256
RUB 104.308748
RWF 1364.748788
SAR 3.754429
SBD 8.383555
SCR 13.699038
SDG 601.503676
SEK 11.036204
SGD 1.346604
SHP 0.789317
SLE 22.730371
SLL 20969.504736
SOS 571.332598
SRD 35.494038
STD 20697.981008
SVC 8.748021
SYP 2512.529858
SZL 18.034455
THB 34.480369
TJS 10.647152
TMT 3.5
TND 3.17616
TOP 2.342104
TRY 34.552504
TTD 6.790153
TWD 32.583504
TZS 2659.340659
UAH 41.35995
UGX 3694.035222
UYU 42.516436
UZS 12825.951341
VES 46.55914
VND 25419
VUV 118.722009
WST 2.791591
XAF 629.547483
XAG 0.031938
XAU 0.000369
XCD 2.70255
XDR 0.760497
XOF 629.547483
XPF 114.458467
YER 249.925037
ZAR 18.15566
ZMK 9001.203587
ZMW 27.617448
ZWL 321.999592
  • SCS

    0.2300

    13.27

    +1.73%

  • CMSD

    0.0150

    24.46

    +0.06%

  • RIO

    -0.2200

    62.35

    -0.35%

  • BCC

    3.4200

    143.78

    +2.38%

  • GSK

    0.2600

    33.96

    +0.77%

  • CMSC

    0.0320

    24.672

    +0.13%

  • NGG

    1.0296

    63.11

    +1.63%

  • RBGPF

    59.2400

    59.24

    +100%

  • BTI

    0.4000

    37.38

    +1.07%

  • BP

    0.2000

    29.72

    +0.67%

  • BCE

    0.0900

    26.77

    +0.34%

  • RELX

    0.9900

    46.75

    +2.12%

  • RYCEF

    -0.0100

    6.79

    -0.15%

  • AZN

    1.3700

    65.63

    +2.09%

  • VOD

    0.1323

    8.73

    +1.52%

  • JRI

    -0.0200

    13.21

    -0.15%

Asian markets mixed as torrid week draws to close
Asian markets mixed as torrid week draws to close

Asian markets mixed as torrid week draws to close

Asian markets were mixed on Friday, at the end of a broadly damaging week for global investors as the Federal Reserve gave notice that the days of ultra-cheap cash were coming to an end quicker than some had envisaged.

Text size:

Rising tensions between Russia and the West over the Ukraine crisis are adding to the increasingly fractious mood on trading floors, where a selling frenzy this month has wiped around $7 trillion off valuations around the world.

While recent data has shown economies picking up as they reopen and the Covid-19 threat wanes, commentators warn that the volatility seen in recent months will likely continue for the near-term as the Fed tightens policy.

The US central bank has in recent weeks taken a more hawkish turn as it looks to fight four-decade-high inflation by ramping up interest rates and offloading its vast bond holdings that have helped keep costs down.

Officials plan a hike in March, but debate among investors is now on by how much and how many more will follow. Some have suggested a 50 basis point rise and another possible five before 2023.

Fed boss Jerome Powell's commented this week that the economy, which grew last year at its fastest pace since the 80s, is well placed to handle the tightening.

Markets have rallied for the best part of two years to record or multi-year highs, and analysts say a hefty pullback is to be expected, owing to profit-taking and the removal of a pandemic-era central bank and government stimulus.

"Really what we are seeing is historic intraday volatility," Chris Murphy, of Susquehanna International Group, told Bloomberg Television. "It's been a pretty amazing ride so far this year."

And Federated Hermes senior global equities portfolio manager Lewis Grant said the Covid threat looked like being replaced by a "fractious geo-political landscape".

"Global supply chain disruptions look to worsen as the relationship between Russia and the West deteriorates" as Moscow massed troops on Ukraine's border.

"Russia's supply of natural gas to Western Europe could further spark volatility across financial markets and as we turn the corner on the pandemic we now see a possible conflict as one of the biggest threats to markets in 2022," he warned.

On Wall Street, all three main indexes ended in the red -- reversing early gains as they had the day before -- with the Nasdaq leading the way again as tech firms are more susceptible to higher borrowing costs.

Asia fared a little better, with bargain-buying providing support after Thursday's steep drops.

Tokyo and Sydney piled on around two percent apiece -- while Singapore, Seoul, Manila and Jakarta were also up.

But Hong Kong lost more than one percent, while Shanghai and Wellington were also deep in negative territory.

Still, markets strategist Louis Navellier remains upbeat.

"While the Fed's intention of getting tougher on inflation will likely result in interest rates creeping up, the reopening of the US and global economies post-pandemic should result in upside growth surprises," he said in a note.

"Already Covid hospitalisation rates have peaked and are falling, and health restrictions are being lifted in many locations.

"The recent volatility may continue to play out as the Fed officially takes away the punch bowl of monetary support, but growth should continue to offset inflation and interest rate increases."

- Key figures around 0230 GMT -

Tokyo - Nikkei 225: UP 2.1 percent at 26,720.06 (break)

Hong Kong - Hang Seng Index: DOWN 1.1 percent at 23,548.75

Shanghai - Composite: DOWN 0.8 percent at 3,366.72

Dollar/yen: UP at 115.45 yen from 115.36 yen late Thursday

Euro/dollar: UP at $1.1149 from $1.1147

Pound/dollar: UP at $1.3395 from $1.3381

Euro/pound: DOWN at 83.23 pence from 83.27 pence

West Texas Intermediate: UP 0.5 percent at $87.07 per barrel

Brent North Sea crude: UP 0.4 percent at $89.68 per barrel

New York - Dow: FLAT at 34,160.78 (close)

London - FTSE 100: UP 1.1 percent at 7,554.31 (close)

-- Bloomberg News contributed to this story --

W.Knight--TFWP