Asian markets settle mostly down on Thursday

01 Feb 2024 Evaluate

Asian markets settled mostly down on Thursday after the US Federal Reserve kept key interest rates steady and indicated rate cuts are not imminent in view of elevated inflation. Japanese markets declined amid hawkish signals from the Bank of Japan. A recent summary of opinions from the BoJ showed that policymakers discussed the possibility of a near term exit from the bank’s ultra dovish policy. Chinese markets declined amid persisting signs of economic weakness in the country. A private survey showed that Chinese manufacturing sector grew as expected in January, but the pace of growth remained weak. Separate data showed that Chinese new home sales plummeted in January. Although, Hong Kong markets gained after data showing that Hong Kong's economy expanded at a faster pace at the end of the year.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	2,770.74	-17.81	-0.64
Hang Seng	15,566.21	81.14	0.52
Jakarta Composite	7,201.70	-6.24	-0.09
KLSE Composite	--	--	--
Nikkei 225	36,011.46	-275.25	-0.76
Straits Times	3,143.06	-9.95	-0.32
KOSPI Composite	2,542.46	45.37	1.78
Taiwan Weighted	17,968.11	78.55	0.44

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