Asian stock markets close Tuesday mixed

ISTANBUL 

Major Asian indices closed Tuesday with mixed figures amid ongoing inflation concerns and developments related to zero-COVID measures in China.

The expectations that the US Federal Reserve will continue its tight monetary policy for longer than expected against the difficulty in the fight against inflation caused a decline in global risk appetite.

The Fed’s final interest rate expectation rose above 5%, as there is still a higher probability that the bank will raise interest rates by 50 basis points at its meeting next week.

In Asia, the steps taken by China to abandon its “zero-COVID” policy remained in the focus of investors.

The Asia Dow, which includes blue-chip companies in the region, was down 0.77% to 3,257.09 points, while Tokyo’s Nikkei 225 earned 0.24% to reach 27,885.87.

The Hang Seng, the benchmark for blue-chip stocks trading on the Hong Kong stock exchange, dropped 0.4% to 19,441.18 points.

China’s Shanghai Stock Exchange rose 0.02% to close at 3,212.53, while the Indian Sensex benchmark decreased 0.33% to 62,626.36 points.

The Singapore index gained 0.46% to 3,252.37.

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