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Asian markets trade mostly higher in early deals of Tuesday

18 Jun 2024 Evaluate
Asian markets traded mostly higher in early deals of Tuesday, as the tamer than expected May US inflation data buoyed interest rate trim optimism. Asian indices picked up kindled by the rally in technological sector stocks with its global counter partners. Meanwhile, China’s central bank Monday left its medium-term lending facility rate unchanged, as expected, when rolling over maturing loans while draining some funds from the banking system. Japan’s Nikkei rebounded from previous sessional losses followed by the weakness in local currency yen. Market participants continued to access monetary policy outlook of the Bank of Japan after mentioning of its plan on winding down bond buying program at July policy meeting. Stock markets of Indonesia is closed for Eid al-Adha holiday.

Nikkei 225 up by 317.35 points 0.83% to 38,419.79, Straits Times rose by 5.26 points 0.16% to 3,302.81, KOSPI Index higher by 21.22 points or 0.77% to 2,765.32, Taiwan Weighted jumped by 254.16 points or 1.13% to 22,750.69, Shanghai Composite widened 10.72 points or 0.35% to 3,026.61, and FTSE Bursa Malaysia KLCI added 4.39 points or 0.27% to 1,611.71.

On the flip side, Hang Seng down by 33.06 points 0.18% to 17,903.06.

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