Asian markets settle mostly higher on Thursday

13 Jul 2023 Evaluate

Asian markets settled mostly higher on Thursday after weaker-than-expected US inflation data bolstered hopes of the US Federal Reserve nearing the end of its tightening cycle. Data showed that US consumer price inflation rose 3% in June, marking their smallest year-on-year increase since March 2021, after 4% growth in May. Meanwhile, South Korea's central bank held its policy rate for a fourth meeting, as widely expected, citing slowing inflation. Chinese shares gained by prospect of more stimulus after sluggish Chinese trade data. Japanese shares rose by tracking Wall Street's overnight rally, with heavyweight chip-related stocks leading the gains. While, Japan's top financial diplomat Masato Kanda said that there is a view that speculative yen short positions are unwinding rapidly.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	3,236.48	40.35	1.25
Hang Seng	19,350.62	489.67	2.53
Jakarta Composite	6,810.21	2.00	0.03
KLSE Composite	1,396.23	-1.83	-0.13
Nikkei 225	32,419.33	475.40	1.47
Straits Times	3,238.46	63.10	1.95
KOSPI Composite	2,591.23	16.51	0.64
Taiwan Weighted	17,061.40	99.37	0.58

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