Asian stocks close mixed on Thursday

By Aysu Bicer

ANKARA (AA) – Stocks in Asia had a mixed day on Thursday as concerns persist over high interest rates and the effects of a stronger dollar continue to weigh on global markets.

China’s Shanghai Composite index was down 0.1% to end the day at 3,041 points.

The fall came as the People’s Bank of China said in a statement that it will increase policy coordination with the government.

The central bank said the Chinese economy is on a recovery path, but faces challenges such as declining demand, supply shocks and weakening expectations.

“We will further remove barriers to the monetary policy transmission mechanism, maintain reasonably adequate liquidity, and ensure the stability of overall credit growth,” the statement said.

Japan’s Nikkei 225 index finished the day at 26,422 points, up 1%, as US dollar/yen parity hovered around 144.7, its lowest level in 24 years.

South Korea’s Kospi index was up 0.1% to 2,171 points, while India’s Sensex fell 0.3% to 56,431 points.

Hong Kong’s Hang Seng index was at around 17,104 points, down 0.9%.