Asian markets settle mostly higher on Thursday

05 Dec 2024 Evaluate

Asian markets settled mostly higher on Thursday tracking Wall Street’s gains overnight following positive comments by US Federal Reserve Chair Jerome Powell on the growth and inflation outlook, while release of some weaker-than-expected US private sector employment and service sector activity data also contributed to optimism about interest rates outlook. Although, geopolitical concerns in the Middle East and Ukraine as well as the political crises in South Korea and France have limited further gains. Chinese shares gained ahead of upcoming annual policy meeting that could roll out new stimulus measures. Japanese shares rose modestly as technology shares tracked their US peers higher, but the Japanese yen saw modest gains on hopes that the Bank of Japan will raise interest rates for the third time this year. Seoul shares extended losses from the previous session as investors remained worried over political turmoil after President Yoon Suk Yeol's short-lived attempt at martial law.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	3,368.86	4.21	0.12
Hang Seng	19,560.44	-182.02	-0.93
Jakarta Composite	7,313.31	-13.45	-0.18
KLSE Composite	1,615.64	1.55	0.10
Nikkei 225	39,395.60	119.21	0.30
Straits Times	3,822.68	22.74	0.59
KOSPI Composite	2,441.85	-22.15	-0.91
Taiwan Weighted	23,267.94	12.61	0.05

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