Asia-Pacific markets climbed as investors shrug off the U.S. Federal Reserve’s commitment to higher interest rates in tackling inflation.
In Japan, the Nikkei 225 recovered 103.94 points, or 0.4%, to 25,820.80,
In Hong Kong, the Hang Seng kept its streak alive, adding 259.06 points, or 1.3%, to 21,052.17. Hong Kong’s S&P Purchasing Managers’ Index also showed eased pressure in the factory activity.
The Index ticked higher to 49.6 in December from 48.7 in November despite remaining in contraction territory for the fourth consecutive month.
Singapore’s retail sales rose 6.2% in November from a year ago, slower than the 10.3% growth posted for October, according to the latest figures published by the Department of Statistics.
The reading marked an easing from the past seven consecutive months of double-digit annualized growth.
Excluding motor vehicles, Singapore’s total retail sales amounted to $4 billion, of which 14.8% was made up of online sales.
CHINA
In Shanghai, the CSI 300 gained 75.63 points, or 1.9%, to 3,968.58, as investors digested an improved reading in China’s Caixin services Purchasing Managers’ Index for December.
The print rose from seeing a six-month low in the previous month with a reading of 46.7.
The 50-point mark separates growth from contraction. PMI readings are sequential and represent month-on-month expansion or contraction.
In other markets
In Taiwan, the Taiex regained 101.92 points, or 0.7%, to 14,301.05
In Korea, the Kospi index nosed up 8.67 points, or 0.4%, to 2,264.65.
In Singapore, the Straits Times Index moved ahead 50.2 points, or 1.6%, to 3,292.66.
In New Zealand, the NZX 50 lea[ed 63.81 points, or 0.6%, to 11,651.29.
In Australia, the ASX 200 edged ahead 4.41 points, or 0.1%, to 7,063.63.
