Asian markets settle mostly down on Friday

15 Mar 2024 Evaluate

Asian markets settled mostly down on Friday due to uncertainty over rate cut in June monetary policy after hotter-than-expected the US inflation producer inflation data. The US producer price inflation rose 0.6% in February from last month, Labor Department data showed, that was higher than market expectations of a 0.3% uptick. Meanwhile, Australian markets declined amid expectations that the Reserve Bank of Australia might maintain its hawkish stance at a policy meeting next week. Japanese shares fell tracking Wall Street’s decline overnight and anxiety ahead of next week's Bank of Japan policy meeting. The Bank of Japan is widely expected to put an end to its negative interest rates and yield curve control policies. Hong Kong shares settled down after data showed China's house prices continued to fall in February. However, Chinese shares gained as PBoC left its key policy rate unchanged and withdrew cash from a medium-term policy loan operation for the first time in 16 months.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	3,054.64	16.41	0.54
Hang Seng	16,720.89	-240.77	-1.44
Jakarta Composite	7,328.05	-105.27	-1.44
KLSE Composite	1,552.83	9.08	0.59
Nikkei 225	38,707.64	-99.74	-0.26
Straits Times	3,172.96	-13.44	-0.42
KOSPI Composite	2,666.84	-51.92	-1.95
Taiwan Weighted	19,682.50	-255.42	-1.30

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