MSCI’s broadest index of Asia-Pacific shares outside Japan was largely flat on Friday, as a bounce in Hong Kong and among mainland Chinese blue chips offset declines elsewhere. Japan’s Nikkei fell 1.6%.
Hong Kong shares were likely heading for their worst quarter since 2001 and Chinese blue chips might also finish September by recording their biggest quarterly loss since a stock market meltdown in 2015. However, it is up 2.9% for the month, the best since April. The relentless rise of the dollar has pushed the Japanese yen, Chinese yuan and many emerging market currencies to record lows.
Prime Minister Liz Truss said on Thursday she will stick to her plan to reignite economic growth, breaking her silence after nearly a week of financial market chaos. “Indeed, markets now also see a far wider range of possible outcomes when it comes to FX and rate movements.”
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