Asian stocks markets close Thursday in low note

By Tuba Sahin

ISTANBUL (AA) - Major Asian stock markets closed in the negative territory on Thursday, except for Singapore, amid a strengthening dollar, weak economic data and a Chinese city lockdown.

The dollar index rose above 109 on Thursday, approaching its 20-year high as a Federal Reserve official signaled higher interest rates in coming meetings.

"My current view is that it will be necessary to move the Fed funds rate up to somewhat above 4% by early next year and hold it there," Loretta Mester, head of the Cleveland, Ohio Federal Reserve Bank, said Wednesday.

The Asia Dow, which includes blue-chip companies in the region, lost 69.1 points, or 2.12%, to end at 3,156 points.

Tokyo's Nikkei 225 fell 430 points, or 1.53%, to close at 27,661.

The au Jibun Bank Japan Manufacturing PMI (purchasing managers' index) decreased to 51.5 in August from 52.1 in July.

The Hang Seng, the benchmark for blue-chip stocks trading on the Hong Kong stock exchange, dropped 357 points, or 1.79%, to 19,597.

China's Shanghai Stock Exchange declined 17.16 points, or 0.54%, to 3,184.

China's manufacturing activity contracted for the first time in three months in August, with Caixin China manufacturing PMI unexpectedly falling to 49.5 in August from 50.4 in July.

The southwestern Chinese city of Chengdu announced a lockdown as it launched four days of citywide COVID-19 testing.

India's Sensex benchmark decreased 770.5 points, or 1.29%, to close at 58,766.

On the other hand, the Singapore index rose slightly by 2.14 points, or 0.07%, to 3,224.