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Asian markets settle mostly higher on Monday

04 Mar 2024 Evaluate
Asian markets settled mostly higher on Monday tracking Wall Street’s gains last Friday as weak US manufacturing and consumer sentiment data reinforcing bets that the Fed will start cutting interest rates in June. Meanwhile, investors are awaiting cues from Federal Reserve Chair Jerome Powell's congressional testimony and the annual meeting of China’s National People's Congress in Beijing. Japan's Nikkei 225 average surpassed the crucial 40,000 level for the first time led by technology shares. Japan’s government is considering declaring a formal end to its battle against deflation in a move that paves the way for its central bank to cease negative interest rates for the first time in eight years. Seoul shares gained after data showed South Korea's industrial output rose for the third consecutive month in January.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,039.31

12.29

0.40

Hang Seng

16,595.97

6.53

0.04

Jakarta Composite

7,276.75

-35.16

-0.48

KLSE Composite

1,539.27

1.25

0.08

Nikkei 225

40,109.23

198.41

0.49

Straits Times

3,122.21

-13.55

-0.43

KOSPI Composite

2,674.27

31.91

1.19

Taiwan Weighted

19,305.31

369.38

1.91


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