Asian stocks closed on a mostly positive note, with several key indices showing gains in response to various factors impacting regional markets. However, concerns over US bond yields continued to exert pressure on stock prices.
Tokyo’s Nikkei Signals Potential Interest Rate Hike The Nikkei in Tokyo turned up and closed at 32,192.75 points, gaining 33.47 points or 0.10%. This modest increase is being closely watched as it may signal a potential interest rate hike by the US Federal Reserve (Fed) in the near future.
Australia’s Stocks Rise on Stimulus Measures from China In Australia, the S&P/ASX 200 closed at 7,325.40 points, up 13.70 points or 0.19%, while the All Ordinaries closed at 7,535.90 points, gaining 13.60 points or 0.18%. The positive performance came after China, Australia’s main trading partner, pledged to announce measures aimed at stimulating consumer spending and bolstering domestic liquidity.
South Korea’s KOSPI Declines Amid Risk Diversification South Korea’s KOSPI closed down at 2,602.80 points, experiencing a decline of 2.59 points or 0.10%. Investors sought to diversify their portfolios as they braced for the release of employment data from the United States. Additionally, the won depreciated against the US dollar, adding further pressure to the market.
China’s Shanghai Composite Rises on Hopes of Monetary Easing The Shanghai Composite in China closed at 3,288.08 points, marking a gain of 7.62 points or 0.23%. The positive performance was fueled by investor optimism surrounding potential monetary easing measures by the People’s Bank of China.
Hong Kong’s Hang Seng Closes Higher, Awaits US Non-Farm Payrolls Hong Kong’s Hang Seng closed at 19,539.46 points, surging 118.59 points or 0.61%. Investors closely monitored the upcoming release of the US non-farm payrolls data to assess the potential interest rate outlook of the Federal Reserve (Fed).
Thailand’s SET Records Modest Increase In Thailand, the SET closed at 1,530.46 points, witnessing a gain of 1.45 points or 0.09%.
Despite the overall positive sentiment in the Asian markets, concerns over US bond yields continue to linger. The uncertainty surrounding the future path of interest rates in the US has been a key driver of volatility in global financial markets. Investors are closely monitoring economic indicators and central bank announcements for further clues on the trajectory of monetary policy.