Shares in Asian markets were mostly higher on Thursday as investors awaited the market’s reaction to the Federal Reserve’s latest minutes on its plan to combat inflation even if it slowed economic growth.
As of 09.33 hrs. local time in Thailand, mainland China’s Shanghai Composite was 0.14% higher, and the Nikkei 225 in Japan climbed 0.68%.
South Korea’s Kospi rose 1.50% and the S&P/ASX 200 in Australia edged 0.23% higher.
Meanwhile, Hong Kong’s Hang Seng index fell 0.71%.
Mixed regional performance led to fluctuations in MSCI Inc.’s Asia-Pacific share index, which saw a decline in Hong Kong but an increase in South Korea thanks to a rise in share price of Samsung Electronics Co. after it released 2Q22 earnings guidance.
Operating profit of Samsung Electronics is expected to rise to 14.1 trillion won ($10.8 billion) in the April-June period, up from 12.57 trillion won the previous year.
According to minutes from the Federal Reserve’s June meeting, released on Wednesday, officials said that another interest rate hike of 50 to 75 basis points is likely at the July meeting.
The US policymakers “recognized the possibility that an even more restrictive stance could be appropriate if elevated inflation pressures were to persist,” the document said.
“Participants recognized that policy firming could slow the pace of economic growth for a time, but they saw the return of inflation to 2 percent as critical to achieving maximum employment on a sustained basis,” according to the document.