Asian markets end mixed on Friday

08 Nov 2024 Evaluate

Asian markets ended mixed on Friday after the Bank of England and the US Federal Reserve cut interest rates by a quarter point, while US Fed Chair Jerome Powell said the central bank will evaluate data to adjust the pace and destination of interest rates as inflation nears the 2% target. Meanwhile, lingering concerns on a second presidential term for Donald Trump also kept sentiments mixed. Japanese shares gained as technology shares followed their US peers higher overnight, despite weak household spending data and stronger yen. On a monthly basis, Japan’s household spending decreased 1.3%, after a strong 2% gain in August and beats market estimate of 0.7%. Chinese and Hong Kong shares declined as investors’ focus shifted to stimulus announcements from China later in the day as the meeting in the Standing Committee of the National People's Congress ends.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	3,452.30	-18.36	-0.53
Hang Seng	20,728.19	-225.15	-1.09
Jakarta Composite	7,287.19	43.33	0.59
KLSE Composite	1,621.24	-2.04	-0.13
Nikkei 225	39,500.37	118.96	0.30
Straits Times	3,724.37	50.88	1.37
KOSPI Composite	2,561.15	-3.48	-0.14
Taiwan Weighted	23,553.89	145.07	0.62

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