Asian markets end mixed on Thursday

07 Mar 2024 Evaluate

Asian markets ended mixed on Thursday, with Seoul shares gained following Wall Street gains overnight after US Fed Chair Jerome Powell signalled in testimony to a House of Representatives that the US Fed is on track to cut interest rates at some point this year but officials need greater confidence inflation is moving sustainably toward 2%. Japanese shares declined heavily as the Japanese currency yen hit a one-month high on growing speculation that the Bank of Japan could end negative interest rates this month. Chinese and Hong Kong shares dropped, despite better-than-expected trade data for the first two months of 2024. In January to February period China’s exports registered an annual increase of 7.1% and imports grew 3.5%, resulting in a trade surplus of $125.16 billion for the period.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	3,027.40	-12.53	-0.41
Hang Seng	16,229.78	-208.31	-1.28
Jakarta Composite	7,373.96	44.16	0.60
KLSE Composite	1,535.83	4.32	0.28
Nikkei 225	39,598.71	-492.07	-1.24
Straits Times	3,133.78	-2.36	-0.08
KOSPI Composite	2,647.62	6.13	0.23
Taiwan Weighted	19,693.52	194.07	0.99

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