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Asian Stock Markets Close with Mixed Results as Australian Bank Raises Interest Rates

In today’s trading session, Asian stock markets displayed a mixed performance. The S&P/ASX 200 in Australia closed at 7,129.60, marking a decline of 86.70 points or -1.20%. Similarly, the All Ordinaries closed at 7,319.90, down 81.30 points or -1.10%. The unexpected interest rate hike by the Reserve Bank of Australia took analysts by surprise.

On the other hand, Tokyo’s Nikkei experienced its fourth consecutive day of gains, closing at 32,506.78. This marked a significant increase of 289.35 points or +0.90% and set a new 33-year high. Market participants anticipate that the Bank of Japan (BOJ) will maintain a neutral monetary policy, or possibly introduce further easing measures, as wage data indicates sluggishness.

Meanwhile, China’s Shanghai Composite closed at 3,195.34, down 37.10 points or -1.15%. The ongoing concerns regarding the trade dispute between China and the United States weighed on market sentiment. Investors are closely monitoring upcoming Chinese economic data releases this week for further insights into the country’s economic performance.

In Hong Kong, the Hang Seng closed at 19,099.28, experiencing a marginal decline of 9.22 points or -0.05%. Investor apprehension surrounding tensions between the United States and China intensified after a clash occurred between a Chinese warship and a US warship in the Taiwan Strait on Sunday, June 4.

It’s worth noting that South Korean stock markets remained closed today in observance of the national hero’s remembrance day.

In Thailand, the SET index closed at 1,528.54 points, recording a slight decrease of 2.66 points or -0.17%. The lack of new supportive factors influenced market sentiment, while investors await the upcoming meeting of the US Federal Reserve (Fed) next week.

As the week progresses, market participants will continue to closely monitor global economic and political developments, as they can significantly impact the performance of Asian stock markets.

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