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Asian markets trade mostly higher in early deals on Wednesday

22 May 2024 Evaluate

Asian markets were trading mostly in green following positive cues from the US markets overnight. Sentiments got boost as Japan’s machinery orders rose 2.7% year-on-year, compared to street’s expectations of a 2.3% climb. On a month-on-month basis, core machinery orders rose 2.9% versus estimates of a 2.2% fall. However, gains were limited as traders largely refrained from making significant moves as they await the release of the minutes of the US Fed's latest monetary policy meeting later in the day for clues about the outlook for interest rates. Meanwhile, markets in Malaysia and Singapore are closed for Vesak Day holiday.

Asian markets were trading mostly in green; Hang Seng advanced 34.18 points or 0.18% to 19,254.80, Jakarta Composite gained 41.66 points or 0.58% to 7,227.70, Shanghai Composite strengthened 0.51 points or 0.02% to 3,158.48 and Taiwan Weighted added 323.52 points or 1.52% to 21,560.27. However, KOSPI dropped 0.38 points or 0.01% to 2,723.80 and Nikkei 225 slipped 321.91 points or 0.83% to 38,625.02. 


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