Asian markets settle mostly higher on Friday

18 Oct 2024 Evaluate

Asian markets settled mostly higher on Friday with Chinese and Hong Kong shares led gains after the world’s second-largest economy posted better-than-expected economic growth. Market sentiments improved further after the PBoC released plans for supporting the stock market through share repurchases by companies and major shareholders, while the PBoC also officially launched a swap facility for securities, funds and insurance companies. Japanese shares rose, supported by the yen's weakness at around 150 to the US dollar. The BoJ must focus on the economic impact of unstable markets and risks from overseas, Governor Kazuo Ueda said, suggesting the Japanese central bank was in no rush to raise interest rates further.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	3,261.56	92.18	2.83
Hang Seng	20,804.11	725.01	3.48
Jakarta Composite	7,760.06	25.02	0.32
KLSE Composite	1,645.99	4.55	0.28
Nikkei 225	38,981.75	70.56	0.18
Straits Times	3,640.19	14.94	0.41
KOSPI Composite	2,593.82	-15.48	-0.60
Taiwan Weighted	23,487.27	433.43	1.85

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