Aysu Bicer
23 May 2022•Update: 23 May 2022
ANKARA
Asian stocks ended the day mixed as geopolitical developments and concerns arising from inflation, growth and tighter monetary policies remain on the agenda on Monday.
US President Joe Biden said on Monday that Washington would intervene militarily if China uses force to take over Taiwan.
“Our policy towards Taiwan has not changed at all. We remain committed to peace and stability across the Taiwan Strait to ensure that there is no unilateral change in the status quo,” Biden said at a joint news conference with Japanese Prime Minister Fumio Kishida in Tokyo.
While entering a busy week in terms of the guidance and data agenda of central bank officials, it is noteworthy that investors acted cautiously, especially before the meeting minutes of the US Federal Reserve are to be announced.
Across Asia, the quarantine measures imposed in China due to the pandemic and the steps taken to support the weakening economy were also closely monitored.
Meanwhile, the annual inflation rate in Hong Kong declined to a 3-month low of 1.3% in March of 2022 from 1.7% in the previous month.
With these developments, the Asia Dow, which includes blue-chip companies in the region, was up 13.34 points, or 0.40%, to 3,363 points.
Tokyo’s Nikkei 225 stock exchange increased 262.49 points, or 0.98%, to 27,001.
The Hang Seng, the benchmark for blue-chip stocks trading on the Hong Kong stock exchange, plummeted 247.18 points, or 1.19%, to 20,470.
China’s Shanghai stock exchange was almost flat at 3,146 points, slightly up 0.01%.
India's Sensex benchmark lost 37.78 points, or 0.07%, to 54,288, while the Singapore index diminished 26.93 points, or 0.83%, to 3,213.
