Asian markets settle mostly higher on Thursday

10 Oct 2024 Evaluate

Asian markets settled mostly higher on Thursday tracking Wall Street gains overnight ahead of key US inflation readings due this week that could influence the Fed's interest-rate trajectory. Meanwhile, minutes from the Federal Reserve's September meeting released overnight showed a substantial majority of Federal officials at the meeting favoured the larger half-point rate cut, but were divided over the economic outlook and are in no rush for another half-point cut. Chinese and Hong Kong shares led gains on expectations that Chinese policymakers will announce more stimulus to revive growth at a press briefing by China's finance ministry on Saturday. Japanese shares gained as China's central bank PBoC launched a new Swap Facility with an initial scale of 500 billion yuan ($71 billion) to bolster the capital market.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	3,301.93	43.07	1.30
Hang Seng	21,251.98	614.74	2.89
Jakarta Composite	7,480.08	-21.21	-0.28
KLSE Composite	1,640.94	6.03	0.37
Nikkei 225	39,380.89	102.93	0.26
Straits Times	3,585.29	-10.37	-0.29
KOSPI Composite	2,599.16	4.80	0.18
Taiwan Weighted	--	--	--

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