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Asian markets settle mostly higher on Thursday

12 Sep 2024 Evaluate
Asian markets settled mostly higher on Thursday, tracking Wall Street’s gains overnight as a key US inflation report signalled slowing price growth and bolstered expectations of a 25-bps rate cut at next week's FOMC meeting. Japanese shares gained as a weak yen against the US dollar lifted semiconductor related shares and automakers. Meanwhile, Japan's soft producer price inflation data undermined hawkish signals from the Bank of Japan. South Korean shares jumped as chip and auto shares led the gain, while the country's top financial regulator said today it plans to lift the ban on short selling at the end of March. However, Chinese shares declined due to rising geopolitical tensions ahead of the November US presidential elections.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

2,717.12

-4.68

-0.17

Hang Seng

17,240.39

131.68

0.76

Jakarta Composite

7,798.15

37.19

0.48

KLSE Composite

1,638.31

-1.49

-0.09

Nikkei 225

36,833.27

1,213.50

3.29

Straits Times

3,556.53

25.36

0.71

KOSPI Composite

2,572.09

58.72

2.28

Taiwan Weighted

21,653.25

622.25

2.87

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