Asian stock markets close Friday with gains

By Tuba Sahin

ANKARA (AA) - Major stock exchanges in Asia closed Friday in the positive territory as investors shrugged off more hawkish remarks from policymakers.

US Federal Reserve Chair Jerome Powell reiterated at the Cato Institute on Thursday that the central bank is strongly committed to bringing inflation down and said the bank will continue tightening policy “until the job is done.”

The European Central Bank on Thursday hiked its three key rates by 75 basis points each in a historic move as eurozone inflation faces a record-high and war-driven energy crisis.

Christine Lagarde, the bank's governor, emphasized that the interest rate hike will continue. "We can probably raise rates in more than two meetings."

The Asia Dow, which includes blue-chip companies in the region, rose 55.2points, or 1.79%, to reach 3,138.

Tokyo's Nikkei 225 stock exchange added 149.5 points, or 0.53%, to 28,214 points.

The Hang Seng, the benchmark for blue-chip stocks trading on the Hong Kong stock exchange, surged 507.6 points, or 2.69%, to 19,362.

China's Shanghai Stock Exchange gained 26.5 points, or 0.82%, to close at 3,262 points.

Annual consumer inflation in the world's second-largest economy came in softer than expected, down to 2.5% year-on-year in August, from July's two-year high of 2.7%.

The Indian Sensex benchmark climbed 104.9 points, or 0.18%, to end the day at 59,793.

The Singapore index went up by 29.3 points, or 0.91%, to finish at 3,263 points.