Asian markets settle higher on Friday

30 Aug 2024 Evaluate

Asian markets settled higher on Friday after positive US labour market and GDP data. Meanwhile, investors were awaiting the release of Federal Reserve's preferred inflation metric due later in the day for clues on the Fed's rate trajectory. Japanese shares gained as a weaker yen lifted Japanese export-related shares and after data showed Tokyo's core inflation continued to climb in August, comfortably surpassing the central bank’s 2% target. Seoul shares advanced despite an underwhelming result by AI chipmaker Nvidia. Data showed that industrial production in South Korea falling more than expected in July, driven by a contraction in semiconductor and automobile production.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	2,842.21	19.10	0.67
Hang Seng	17,989.07	202.75	1.13
Jakarta Composite	7,670.73	43.13	0.56
KLSE Composite	1,678.80	25.25	1.53
Nikkei 225	38,647.75	285.22	0.74
Straits Times	3,442.93	38.46	1.12
KOSPI Composite	2,674.31	12.03	0.45
Taiwan Weighted	22,268.09	66.24	0.30

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