The Magazine for Asian Investors
The Thai stock market declined today and came under selling pressure to reduce risks ahead of the Federal Reserve (Fed) meeting, which is considering another interest rate hike. As a result, the yield on the U.S. 10-year Treasury note rose to nearly 3%, putting pressure on the stock market. And selling pressure on small and mid-cap stocks put a lot of downward force on the index today, even though trading volume was not very high.
The SET closed at 1,652.29 points, down 15.15 points or -0.91%.
The Hang Seng Index of Hong Kong shares closed higher. Investors are turning their attention to the Federal Reserve (Fed) meeting today and tomorrow, where an interest rate hike of 0.5% is expected to curb inflation.
The Hang Seng Index closed at 21,101.89, up 12.50, or +0.06%.
The KOSPI (Seoul) closed 0,26%, or 6,99 points lower at 2,680.46.
The Australian stock markets S&P/ASX 200 closed lower. The Reserve Bank of Australia (RBA) raised the key interest rate by 0.25% to 0.35% at its meeting today. This was higher than most analysts had expected.
The S&P/ASX 200 index closed at 7,316.20, down 30.80, or -0.42%.
The All Ordinaries Index closed at 7,587.60 points, down 36.00, or -0.47%.
Japanese stock markets are closed today (May 3) for Constitution Day. Chinese stock markets are closed for Labor Day.