Asian Stocks Mixed after Fourth Straight Loss in Wall Street

Stocks in Asia were mixed in the morning session on Friday after the two biggest central banks raised interest rates this week. 

As of 9:49 BKK time on Friday, Shanghai Composite dipped 0.64%, IDX Composite fell 0.65%. Meanwhile, ASX 200 gained 0.20% and Hang Seng Index rose 0.73%.

Stock markets in Japan, Korea and Thailand are closed for holiday. 


Last night, the European Central Bank brought its benchmark rate to 3.25% with a 25bps hike, a level not seen since November 2008, saying that the inflation outlook continues to be too high for too long.


On Wednesday, the Federal Reserve delivered a 25 bps rate hike. 

The Dow Jones Industrial Average decreased 0.86% to 33,127.74 points, the S&P 500 fell 0.72% and the Nasdaq Composite dipped 0.49%. The Dow turned negative for the year after the closing on Thursday. Wall Street recorded its fourth straight losses.