Asian equity markets displayed a mixed performance today, influenced by hawkish remarks from US Federal Reserve officials and the release of China's manufacturing data. Singapore and Hong Kong markets saw slight declines, while some other regional bourses recorded modest gains.
Asian equity markets presented a mixed picture today, as investors digested the latest remarks from US Federal Reserve officials and China's economic data. Hawkish comments from Fed officials, hinting at potentially higher interest rates for longer, weighed on regional sentiment. Singapore's Straits Times Index dipped 0.3%, while Hong Kong's Hang Seng Index saw a modest retreat of 0.5%. Concurrently, China's manufacturing PMI data came in slightly below expectations, adding to concerns about regional economic growth. However, some markets like South Korea and Taiwan recorded slight gains, driven by strong performances in their technology sectors. Malaysia's market showed resilience amidst regional uncertainties, supported by domestic institutional buying.
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