Asian markets settle mostly higher on Wednesday

19 Jun 2024 Evaluate

Asian markets settled mostly higher on Wednesday tracking Wall Street gains overnight, while a weaker-than-expected US retail sales report reinforced expectations of an early rate cut by the Federal Reserve. However, some gains were limited as commentary from a slew of Fed officials emphasizing the need for more evidence of cooling inflation before lowering rates. Seoul shares gained as technology shares surged on bullish outlook for Artificial Intelligence technology. Japanese shares marginally rose by tracking an overnight rally in US semiconductor shares led by Nvidia. Meanwhile, the minutes of Bank of Japan's April policy meeting showed policymakers debating about the weak yen's impact on inflation, which has remained relatively low compared with other major economies.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	3,018.05	-12.20	-0.40
Hang Seng	18,430.39	514.84	2.79
Jakarta Composite	6,726.92	-7.91	-0.12
KLSE Composite	1,599.79	-6.34	-0.39
Nikkei 225	38,570.76	88.65	0.23
Straits Times	3,309.02	7.24	0.22
KOSPI Composite	2,797.33	33.41	1.19
Taiwan Weighted	23,209.54	452.11	1.95

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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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