Asian markets settle mostly higher on Thursday

26 Sep 2024 Evaluate

Asian markets settled mostly higher on Thursday after US Federal Reserve officials left the door open to another large interest rate cut, and investors were awaiting the release of US GDP data and Fed Chair Jerome Powell's speech for further cues. Meanwhile, the Organisation for Economic Co-operation and Development (OECD) slightly raised its global economic growth forecast for 2024 to 3.2% while maintaining its outlook for 2025. Chinese shares gained after China’s top leaders delivered a forceful pledge to increase fiscal support and stabilize the beleaguered property sector to revive growth. Investors reacted positively to news that China is considering injecting up to 1 trillion yuan ($142.48 billion) into its largest state banks to support the struggling economy. Japanese shares rose as a weaker yen lifted risk sentiment after the minutes of the Bank of Japan's July policy meeting showed board members are split over the future path of interest rates.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	3,000.95	104.64	3.49
Hang Seng	19,924.58	795.48	3.99
Jakarta Composite	7,744.52	3.62	0.05
KLSE Composite	1,671.32	-2.06	-0.12
Nikkei 225	38,925.63	1,055.37	2.71
Straits Times	3,582.23	-1.04	-0.03
KOSPI Composite	2,671.57	75.25	2.82
Taiwan Weighted	22,858.81	97.21	0.43

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