Asian stocks mixed amid inflation, recession fears

ANKARA

Asian stocks ended Friday mixed as the inflation and recession fears once again came to the fore and uncertainties regarding the Russia-Ukraine war continued.


Speculations that Beijing would ease its zero-COVID policy amid the rising number of cases and an article published in the local newspaper by an official on the continuation of market reforms supported the risk appetite.

With these developments, China's Shanghai composite index rose by 2.43% to 3.071 points and South Korea's Kospi index went up by 0.83% to 2,348 points.

Japan's Nikkei 225 index closed the day at 27,200 points with a decrease of 1.68%.

The dollar/yen parity fell to 147.6, 0.4% below the previous closing level.

Hong Kong's Hang Seng index rose by 5.3% to 16,152 points, while India's Sensex index fell 0.1% to 60,754 points.

Oil prices went up over the declining value of the US dollar coupled with fears of tightening supply, although recession fears limited gains.

International benchmark Brent crude traded at $97.09 per barrel for a 2.5% increase from the closing price of $94.67 a barrel in the previous trading session.