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Asian markets settle mostly down on Friday

20 Dec 2024 Evaluate
Asian markets settled mostly down on Friday ahead the US Personal Consumption Expenditure data, the Fed's preferred inflation measure due later in the day, which is expected to play a crucial role in shaping Fed's interest rate path under the incoming Trump administration. Meanwhile, investors were also cautious over a potential US government shutdown. Chinese shares fell after China’s central bank kept its loan prime rates unchanged. The People's Bank of China kept its one-year loan prime rate steady at 3.1% and its five-year loan prime rate at 3.6%. Japanese shares declined after data showed the annual inflation rate in Japan climbed to 2.9% in November 2024 from 2.3% in the prior month, marking the highest reading since October 2023. Moreover, South Korean shares tumbled after the US Federal Reserve signalled a slowdown in the pace of rate cuts.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,368.07

-1.96

-0.06

Hang Seng

19,720.70

-31.81

-0.16

Jakarta Composite

6,983.86

6.62

0.09

KLSE Composite

1,591.41

-8.68

-0.54

Nikkei 225

38,701.90

-111.68

-0.29

Straits Times

3,719.93

-42.95

-1.15

KOSPI Composite

2,404.15

-31.78

-1.32

Taiwan Weighted

22,510.25

-422.00

-1.87


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MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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