Asia Mostly Climbs on Fed Hike

Shares in Asia-Pacific were mostly higher on Thursday

Markets in Japan and Korea were shuttered for holiday.

The Japanese yen traded at 129.52 per dollar, stronger as compared to levels above 130 seen against the greenback yesterday.

The Hang Seng index in Hong Kong lost 232.37 points, or 1.1%, to 20,869.52.

Shares of JD.com gained 1% and Bilibili jumped 2.6%, The two companies were added by the U.S. Securities and Exchange Commission to a list of firms facing delisting risk from American exchanges.

The Australian dollar changed hands at $0.7215, off an earlier high of $0.7266.

CHINA

In Shanghai, the CSI 300 index faded 5.7 points, or 0.2%, to 4,010.21

China’s services sector activity shrunk further in April, a private sector survey showed Thursday. The Caixin services Purchasing Managers’ Index (PMI) declined to 36.2 for April, lower than March’s reading of 42.

The 50-point mark in PMI readings separates growth from contraction. PMI readings are sequential and represent month-on-month expansion or contraction.

Data released over the weekend also showed Chinese factory activity contracted in April as Covid lockdowns hit industrial production.

In other markets

In Taiwan, the Taiex gained 130.29 points, or 0.8%, to 16,696.12.

In Singapore, the Straits Times Index dipped 5.7 points, or 0.2%, to 3,343.57.

In New Zealand, the NZX 50 regained 72.37 points, or 0.6%, to 11,747.57.

In Australia, the ASX 200 recovered 59.97 points, or 0.8%, to 7,364.65.