Asian markets settle higher on Thursday

16 May 2024 Evaluate

Asian markets settled higher on Thursday after Wall Street's record gains overnight with optimism that US inflation is heading back in the right direction and that there will be two interest rate cuts by the US Federal Reserve this year. Data showed that retail sales in the US remained steady in April, while consumer prices rose less than expected and the core CPI slowed. Japanese shares rose as weak GDP data for the January-March quarter fuelled fresh doubts over the timing of BOJ rate hikes. Moreover, Chinese shares gained marginally after reports of government plans to buy unsold homes to save property market.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	3,122.40	2.50	0.08
Hang Seng	19,376.53	302.82	1.56
Jakarta Composite	7,246.70	66.87	0.92
KLSE Composite	1,611.11	7.88	0.49
Nikkei 225	38,920.26	534.53	1.37
Straits Times	3,304.99	15.57	0.47
KOSPI Composite	2,753.00	22.66	0.82
Taiwan Weighted	21,304.26	157.05	0.74

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MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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