Asian markets settle mixed in thin trade on Wednesday

15 May 2024 Evaluate

Asian markets settled mixed in thin trade on Wednesday amid Hong Kong and South Korean markets were closed for Buddha's birthday. Meanwhile, investors were cautiously awaiting key US CPI data due later in the day for clues on the US Federal Reserve's next steps. US Federal Reserve chairman Jerome Powell said that the US Federal Reserve is unlikely to raise its key interest rate in response to signs of stubborn inflation and underscored his view that price increases would soon start to cool again. Chinese shares declined as the US administration announced steep tariff increases on a wide range of Chinese imports and PBoC left a key policy rate unchanged when rolling over maturing medium-term lending facility loans. Japanese shares gained marginally with expectations for an interest-rate hike by the Bank of Japan by July and ahead of the release of the first estimate of the domestic GDP for the January-March period on Thursday.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	3,119.90	-25.87	-0.83
Hang Seng	--	--	--
Jakarta Composite	7,179.83	96.07	1.34
KLSE Composite	1,603.23	-2.65	-0.17
Nikkei 225	38,385.73	29.67	0.08
Straits Times	3,289.42	-23.93	-0.73
KOSPI Composite	--	--	--
Taiwan Weighted	21,147.21	161.36	0.76

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