Asian markets settle mostly higher on Wednesday

04 Dec 2024 Evaluate

Asian markets settled mostly higher on Wednesday after US central bankers said they continue to believe inflation is heading down to their 2% target and signalled support for further interest rate cuts ahead, while investors are awaiting US jobs data and remarks from Federal Reserve Chair Jerome Powell for additional clarity on the US rate outlook. Japanese shares gained marginally after data showed Japan's service activity swung back to growth in November. However, Seoul shares declined as President Yoon Suk Yeol declared martial law in a dramatic move and lifted the decree hours later, plunging the country into political chaos. Chinese and Hong Kong shares fell after data showed China's services activity expanded at a slower pace in November, and as traders waited to see whether China will unveil more economic stimulus measures at a key policy meeting later this month.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	3,364.65	-14.16	-0.42
Hang Seng	19,742.46	-3.86	-0.02
Jakarta Composite	7,326.76	130.74	1.78
KLSE Composite	1,614.09	7.13	0.44
Nikkei 225	39,276.39	27.53	0.07
Straits Times	3,799.94	13.81	0.36
KOSPI Composite	2,464.00	-36.10	-1.47
Taiwan Weighted	23,255.33	227.87	0.98

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