Asian markets settle higher on Friday

08 Mar 2024 Evaluate

Asian markets settled higher on Friday, tracking Wall Street gains overnight after Jerome Powell said that the US Fed is not far from gaining the confidence it needs in falling inflation to begin cutting interest rates. Meanwhile, investors are awaiting US jobs data due later in the day that might offer further cues on when the Fed could cut interest rates. Chinese shares gained after better-than-expected trade data released Thursday signalled increased demand for Chinese exports. Data showed that exports in January-February rose 7.1% from a year earlier and up from a 2.3% rise in December, while imports rose 3.5% compared to 0.2% growth in December. Moreover, Japanese shares rose with growing expectations that the Bank of Japan could finally raise interest rates this month.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	3,046.02	18.62	0.61
Hang Seng	16,353.39	123.61	0.76
Jakarta Composite	7,381.91	7.95	0.11
KLSE Composite	1,539.86	4.03	0.26
Nikkei 225	39,688.94	90.23	0.23
Straits Times	3,147.09	13.31	0.42
KOSPI Composite	2,680.35	32.73	1.22
Taiwan Weighted	19,785.32	91.80	0.46

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