Asia-Pacific markets were mixed Thursday as investors digested the U.S. Federal Reserve’s indications that its run of ultra-easy monetary policy since the start of the pandemic is coming to a close.
In Japan, the Nikkei 225 leaped 606.6 points, or 2.1%, to 29,066.32.
Auto shares advanced, as did tech and retail stocks. Nissan soared 4.07%, while Fast Retailing rose 3%.
The Japanese yen weakened to 114.1 against the U.S. dollar, from levels near 113.70 earlier in the week
In Hong Kong, the Hang Seng recovered 54.74 points, or 0.2%, to 23,475.50.
Australia struggled to find gains. The country’s central bank governor said the Reserve Bank of Australia will not increase interest rates until actual inflation is sustainably in the 2% to 3% target range — that is unlikely to happen next year.
Elsewhere, data from the Australian Bureau of Statistics showed seasonally adjusted employment rose by a massive 366,000 people in November as many of the jurisdictions came out of COVID-related lockdowns. The unemployment rate fell.
The Australian dollar changed hands at $0.7173.
Stateside, the Fed said it will accelerate the reduction of its monthly bond purchases — the central bank will be buying $60 billion per month of bonds starting in January, down from December’s rate of $90 billion, and said that it will likely continue that trajectory in the months ahead.
In other markets
In China, the CSI 300 resurfaced 28.83 points, or 0.6%, to 5,034.73
In Taiwan, the Taiex popped 125.64 points, or 0.7%, to 17,785.74
In Singapore, the Straits Times Index gained 13.92 points, or 0.5%, to 3,128.80
In Korea, the Kospi index inched forward 17.02 points, or 0.6%, to 3,006.41
In New Zealand, the NZX 50 shed 91.87 points, or 0.7%, to 12,777.54
In Australia, the ASX 200 deleted 31.42 points, or 0.4%, at 7,295.66
