Asian markets settle mostly higher on Thursday

30 Nov 2023 Evaluate

Asian markets settled mostly higher on Thursday due to dovish comments by the US Federal Reserve officials, while a further retreat in US bond yields and the American currency also stoked optimism that US interest rates might start to fall sooner than expected. Moreover, expectations of Chinese stimulus measures also buoyed market sentiment. However, weaker-than-expected economic data from China and South Korea raised concerns over the outlook for two of Asia’s largest economies. Data showed China’s manufacturing sector contracting for a second consecutive month in November and performing worse than forecast, while South Korea's factory output unexpectedly declined on weaker chip production in October and posted the biggest drop in 10 months.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	3,029.67	7.98	0.26
Hang Seng	17,042.88	49.44	0.29
Jakarta Composite	7,080.74	44.65	0.63
KLSE Composite	1,452.74	6.67	0.46
Nikkei 225	33,486.89	165.67	0.49
Straits Times	3,072.99	-11.71	-0.38
KOSPI Composite	2,535.29	15.48	0.61
Taiwan Weighted	17,433.85	63.29	0.36

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