Asian markets settle higher on Thursday

11 Jul 2024 Evaluate

Asian markets settled higher on Thursday as investors are awaiting the release of US CPI report later in the day to gauge on Federal Reserve interest rate cut timeline. Meanwhile, US Federal Reserve Chair Jerome Powell said that the Fed will make interest rate decisions ‘when and as’ they are needed, pushing back on a suggestion that a September rate cut could be seen as a political act ahead of the fall presidential election. Chinese shares gained ahead of upcoming Chinese Communist Party's Third Plenum where economic policies and reforms are expected to be discussed, and the release of key economic indicators by the National Bureau of Statistics. Also, China's securities regulator announced more curbs on short-selling and pledged tighter scrutiny of computer-driven program trading in its latest effort to bolster a flagging stock market. Seoul shares rose as the Bank of Korea kept its benchmark interest rate steady at 3.5% for 12th straight time and signaled a dovish shift in its policy stance.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	2,970.39	31.03	1.04
Hang Seng	17,832.33	360.66	2.02
Jakarta Composite	7,300.41	13.37	0.18
KLSE Composite	1,623.12	4.74	0.29
Nikkei 225	42,224.02	392.03	0.93
Straits Times	3,475.06	15.13	0.44
KOSPI Composite	2,891.35	23.36	0.81
Taiwan Weighted	24,390.03	382.95	1.57

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