Asian markets end mixed on Thursday

05 Sep 2024 Evaluate

Asian markets ended mixed on Thursday with caution ahead of more US data this week, including Friday's all-important jobs report for directional cues. The latest job openings and labour turnover summary report signalled cooling hiring in July and fuelled bets on a big rate cut from the Federal Reserve later this month. Seoul shares declined amid concerns of an economic recession in the United States, while revised data showed South Korea's economy shrank 0.2% in the second quarter on weaker domestic consumption and investment by private businesses. Hong Kong shares fell after a private survey revealed growth in China's services sector activity slowed in August. Japanese shares declined sharply on stronger yen and losses in semiconductor-related shares. Meanwhile, Chinese shares gained after reports that in an efforts to shore up the battered property market and economy, Chinese authorities are considering cutting interest rates on as much as $5.3 trillion of mortgages to lower borrowing costs for millions of families.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	2,788.31	4.03	0.14
Hang Seng	17,444.30	-13.04	-0.07
Jakarta Composite	7,681.04	8.14	0.11
KLSE Composite	1,664.82	-5.42	-0.32
Nikkei 225	36,657.09	-390.52	-1.07
Straits Times	3,458.66	17.28	0.50
KOSPI Composite	2,575.50	-5.30	-0.21
Taiwan Weighted	21,187.71	94.96	0.45

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