Zürcher Nachrichten - Asian markets mixed as torrid week draws to close

EUR -
AED 3.938479
AFN 73.284283
ALL 98.19234
AMD 417.267449
ANG 1.943348
AOA 978.447316
ARS 1071.53141
AUD 1.629089
AWG 1.930079
AZN 1.82711
BAM 1.955647
BBD 2.17713
BDT 128.849948
BGN 1.9562
BHD 0.406468
BIF 3183.551653
BMD 1.072266
BND 1.425189
BOB 7.467417
BRL 6.152562
BSD 1.078316
BTN 90.972903
BWP 14.300884
BYN 3.528725
BYR 21016.42052
BZD 2.17343
CAD 1.49386
CDF 3073.115756
CHF 0.939162
CLF 0.03726
CLP 1028.119797
CNY 7.698019
CNH 7.63378
COP 4640.937963
CRC 551.556973
CUC 1.072266
CUP 28.415058
CVE 110.256399
CZK 25.259812
DJF 192.015021
DKK 7.459869
DOP 64.934934
DZD 142.958848
EGP 52.835878
ERN 16.083995
ETB 133.503285
FJD 2.399951
FKP 0.820465
GBP 0.830088
GEL 2.916983
GGP 0.820465
GHS 17.683621
GIP 0.820465
GMD 76.671173
GNF 9295.27488
GTQ 8.33535
GYD 225.592402
HKD 8.336174
HNL 27.205878
HRK 7.386875
HTG 141.888931
HUF 407.236454
IDR 16786.168917
ILS 4.020796
IMP 0.820465
INR 90.481213
IQD 1412.489812
IRR 45134.375558
ISK 148.766647
JEP 0.820465
JMD 171.076654
JOD 0.760348
JPY 163.686863
KES 139.08915
KGS 92.433433
KHR 4378.658423
KMF 493.644665
KPW 965.039476
KRW 1499.246878
KWD 0.328832
KYD 0.89853
KZT 530.808592
LAK 23665.153893
LBP 96559.167469
LKR 315.465391
LRD 204.33406
LSL 18.869628
LTL 3.166124
LVL 0.648604
LYD 5.232592
MAD 10.648369
MDL 19.338491
MGA 4988.610841
MKD 61.5252
MMK 3482.679288
MNT 3643.561097
MOP 8.633826
MRU 42.957649
MUR 49.75717
MVR 16.566921
MWK 1869.754141
MXN 21.634265
MYR 4.699212
MZN 68.521819
NAD 18.869628
NGN 1788.626462
NIO 39.676905
NOK 11.794827
NPR 145.556645
NZD 1.797446
OMR 0.412628
PAB 1.078316
PEN 4.044584
PGK 4.328662
PHP 62.679371
PKR 299.424042
PLN 4.325898
PYG 8431.342275
QAR 3.931893
RON 4.977143
RSD 116.980874
RUB 104.99181
RWF 1478.084695
SAR 4.02742
SBD 8.943509
SCR 14.390377
SDG 644.972153
SEK 11.594849
SGD 1.4214
SHP 0.820465
SLE 24.501684
SLL 22484.885861
SOS 616.251927
SRD 37.497551
STD 22193.748611
SVC 9.435264
SYP 2694.101668
SZL 18.864528
THB 36.687634
TJS 11.462006
TMT 3.763655
TND 3.347839
TOP 2.511359
TRY 36.822021
TTD 7.327428
TWD 34.580984
TZS 2878.975413
UAH 44.514627
UGX 3946.692121
USD 1.072266
UYU 45.046486
UZS 13787.924411
VEF 3884341.194834
VES 47.874003
VND 27101.532073
VUV 127.301648
WST 3.003615
XAF 655.905833
XAG 0.031788
XAU 0.000394
XCD 2.897854
XDR 0.808437
XOF 655.905833
XPF 119.331742
YER 267.878982
ZAR 19.79817
ZMK 9651.687743
ZMW 29.35571
ZWL 345.269328
  • SCS

    0.0600

    13.14

    +0.46%

  • BCC

    1.4700

    142.32

    +1.03%

  • RIO

    -3.0400

    64.43

    -4.72%

  • NGG

    -0.3600

    63.94

    -0.56%

  • RBGPF

    61.4000

    61.4

    +100%

  • GSK

    -0.3700

    36.29

    -1.02%

  • JRI

    0.1600

    13.53

    +1.18%

  • CMSC

    0.1600

    24.84

    +0.64%

  • RELX

    0.3200

    47.98

    +0.67%

  • RYCEF

    0.0100

    7.15

    +0.14%

  • VOD

    -0.0100

    9.31

    -0.11%

  • AZN

    -0.2000

    64.49

    -0.31%

  • BTI

    -0.0100

    35.39

    -0.03%

  • CMSD

    0.2350

    25.125

    +0.94%

  • BCE

    0.3000

    28.37

    +1.06%

  • BP

    -0.8800

    28.93

    -3.04%

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 --

F.Schneider--NZN