Asian stocks closed higher on Friday (13) with investors possibly looking for bargains after the recent losses that shares in the region have suffered amid concerns about high inflation and its effects on the global economy.
The Hang Seng index led gains in Asia, up 2.68% in Hong Kong to 19,898.77 points, while Japan’s Nikkei rose 2.64% in Tokyo to 26,427.65 points, South Korea’s Kospi advanced 2.12% in Seoul, at 2,604.24 points, and Taiex registered a gain of 1.38% in Taiwan, at 15,832.54 points.
In mainland China, the Shanghai Composite gained 0.96% to 3,084.28 points, and the less comprehensive Shenzhen Composite gained 0.51% to 1,931.45 points.
In the week, Asian markets were pressured by fears with persistent high inflation, especially in the US, which should lead the Federal Reserve (Fed, the American central bank) to continue raising interest rates aggressively in the coming months.
On Thursday, Fed Chair Jerome Powell, who had his second term confirmed in the US Senate, admitted that securing a “soft landing” for the US economy in the face of inflationary pressures will not be easy.
The slowdown in China after the adoption of the “zero tolerance” policy against Covid-19 is also worrying, although the city of Shanghai has shown advances in the control of cases of the disease.
In Oceania, the day was also one of recovery for the Australian stock market. The S&P/ASX 200 rose 1.93% in Sydney at 7,075.10. With information from Dow Jones Newswires.
Source: CNN Brasil
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