Asian Market Update : Epic Research Malaysia

Asian markets were relatively calm Friday at the end of a volatile week, with Shanghai and Hong Kong ticking higher after China unveiled a series of steps to shore up its economy, but fears of a US interest rate hike kept dealers on edge.

Higher-yielding, or riskier, currencies such as the Malaysian ringgit and South Korean won benefited from a more upbeat outlook, which followed a positive lead from Wall Street, while the Australian dollar edged higher.

The safe-haven yen, considered a go-to asset in times of turmoil, retreated.

Analysts said world markets seemed to be settling after a roller-coaster ride since China last month devalued its yuan currency, sparking concerns about the world's number two economy - the main driver of global growth - and its leaders' ability to control the crisis.

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