Asian markets settle mostly higher on Wednesday

28 Aug 2024 Evaluate

Asian markets settled mostly higher on Wednesday ahead the release of the Federal Reserve's preferred inflation gauge later this week for signals on US interest-rate cuts, while Nvidia's earnings also in focus. Market sentiments improved further by the broadly positive cues from Wall Street overnight and after a measure of US consumer confidence rose to a six-month high in August. Seoul shares gained marginally after North Korea said it test-fired a 240mm multiple rocket launcher with a new guiding system. Japanese shares rose as the yen dropped further following cautious remarks from BoJ policymaker Himino, who said that BoJ will adjust the degree of monetary accommodation if it has growing confidence that its outlook for economic activity and prices will be realized. However, Chinese shares dipped by weak corporate earnings and concerns over a renewed trade war between China and the west.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	2,837.43	-11.30	-0.40
Hang Seng	17,692.45	-182.22	-1.03
Jakarta Composite	7,658.88	61.00	0.80
KLSE Composite	1,675.24	22.95	1.39
Nikkei 225	38,371.76	83.14	0.22
Straits Times	3,391.03	-7.44	-0.22
KOSPI Composite	2,689.83	0.58	0.02
Taiwan Weighted	22,370.66	185.66	0.83

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