Asian markets settle mostly higher on Monday

19 Aug 2024 Evaluate

Asian markets settled mostly higher on Monday tracking Wall Street gains last Friday due to faded recession fears and growing hopes for a Federal Reserve’s interest rate cut in September. Meanwhile, investors were awaiting cues from the FOMC meeting minutes along with speeches by Fed Chair Jerome Powell and other Fed speakers this week for further cues on the interest rate path. Chinese shares rose ahead of Tuesday's interest-rate decision by China's central bank. However, Seoul shares declined as investors booked profits following recent gains. Japanese shares fell as the yen strengthened against the US dollar on dovish Fed expectations, and ahead to the release of Japanese inflation data due this week that could influence the Bank of Japan's policy posture.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	2,893.67	14.24	0.49
Hang Seng	17,569.57	139.41	0.79
Jakarta Composite	7,466.83	34.74	0.47
KLSE Composite	1,648.70	24.80	1.53
Nikkei 225	37,388.62	-674.05	-1.80
Straits Times	3,355.56	2.67	0.08
KOSPI Composite	2,674.36	-22.87	-0.86
Taiwan Weighted	22,409.63	60.30	0.27

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