Asian stock markets experienced a mixed performance, with trading closely following the direction set by the Dow Jones. Here’s a summary of how the major Asian markets fared:
- Nikkei in Japan closed at 32,776.37 points, marking an impressive gain of 308.61 points or +0.95%.
- Australia’s S&P/ASX 200 ended the trading day in positive territory at 7,206.90 points, up by 14.60 points or +0.20%. The All Ordinaries also closed positively at 7,402.90 points, posting a gain of 15.10 points or +0.20%. The upswing was supported by strong performances in mining and industrial stocks, as well as encouraging developments in healthcare. Additionally, the business conditions index showed signs of recovery in August.
- China’s Shanghai Composite experienced a minor decline, closing at 3,137.06 points, down by 5.72 points or -0.18%. The market exhibited volatility as investors closely monitored the release of economic data from China and awaited potential economic stimulus measures from the government.
- South Korea’s KOSPI faced a drop, ending at 2,536.58 points, down 20.30 points or -0.79%. Investors were keenly watching the release of the Consumer Price Index (CPI) for August in the United States, scheduled for Wednesday, September 13. This data is expected to provide insights into the potential interest rate direction of the US Federal Reserve (Fed) ahead of the Fed Committee’s monetary policy meeting on September 19-20. Notably, the South Korean won strengthened against the US dollar.
- Hong Kong’s Hang Seng closed lower at 18,025.89 points, down 70.56 points or -0.39%. Investors in Hong Kong were also keeping a close eye on developments in the United States, particularly the release of the Consumer Price Index (CPI) for August on Wednesday, September 13, and the Producer Price Index (PPI) for August on Thursday, September 14. These releases will precede the upcoming monetary policy meeting of the Federal Reserve (Fed) on September 19-20.
The mixed performances in Asian markets highlight the influence of global economic data and developments, particularly those originating from the United States, on investor sentiment and market direction in the region.