Asian market settle mixed on Wednesday

17 Jul 2024 Evaluate

Asian market settled mixed on Wednesday. Taiwan and Chinese shares declined by comments from US Republican presidential candidate Donald Trump, who said that Taiwan should pay the United States for supplying the island with defense equipment, while concerns over a Trump presidency had also rattled markets in recent sessions. Investors are awaiting the outcome of the ruling Communist Party's third plenum. Japanese shares fell as investors sold heavyweight chip-related shares to book profits. The International Monetary Fund on Tuesday cut Japan's 2024 economic growth forecast to 0.7%, citing temporary auto output disruptions and weak private investment in the first quarter. However, some losses were limited as US Treasury yields slipped on hopes of a September rate cut by the Federal Reserve and encouraging earnings from UnitedHealth, Bank of America and Morgan Stanley.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	2,962.85	-13.45	-0.45
Hang Seng	17,739.41	11.43	0.06
Jakarta Composite	7,224.22	-0.07	0.00
KLSE Composite	1,633.54	7.58	0.47
Nikkei 225	41,097.69	-177.39	-0.43
Straits Times	3,489.57	1.66	0.05
KOSPI Composite	2,843.29	-22.80	-0.80
Taiwan Weighted	23,769.82	-227.43	-0.96

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