Asian markets settle higher on Monday

07 Oct 2024 Evaluate

Asian markets settled higher on Monday tracking Wall Street gains last Friday as upbeat US jobs data raised optimism about the American economy, the world’s largest, even though the data dashed expectations of aggressive rate cuts in the coming months. Meanwhile, investors were awaiting inflation data and comments from US Federal Reserve officials for further cues on interest rate path. Japanese shares lead gains and the yen slumped against the dollar after Japan's top currency diplomat issued a warning against speculative moves on the foreign exchange market. Moreover, Hong Kong shares surged after top US banks Citi and Goldman Sachs joined peers Morgan Stanley and UBS in raising their targets for key China indices, while more Chinese stimulus measures are expected. Chinese market remained closed until Tuesday for the Golden Week holiday.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	--	--	--
Hang Seng	23,099.78	362.91	1.57
Jakarta Composite	7,504.14	8.05	0.11
KLSE Composite	1,635.29	5.32	0.33
Nikkei 225	39,332.74	697.12	1.77
Straits Times	3,599.19	10.06	0.28
KOSPI Composite	2,610.38	40.67	1.56
Taiwan Weighted	22,702.56	399.85	1.76

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