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Asian markets trade mostly higher in early deals on Friday
Oct-18-2024
Asian markets traded mostly higher in early deals on Friday, with the expectations of more interest rate cut by several central banks across the globe. Asian indices got boosted after China’s industrial output and retail sales activity for September indicated a climb of more than expected, while the urban jobless rate hit a 3-month low of 5.1%. Investor sentiments also bolstered after China economic activity showcased a rise of 4.6% yoy in Q3 of 2024, surpassing the consensus of 4.5% but falling short of Q2's print of 4.7%, heightening calls for more stimulus. Hang Seng advanced in the session after leader John Lee hinted that the country is to establish a HKD10 billion innovation and tech industry-oriented fund. However, the Hang Seng is heading for the second straight decline, down around 4.5% so far. Japan’s Nikkei also in positive side snapping a two-day decline as hawkish BoJ comments got trivialized after slowing domestic inflation numbers. Albeit, stronger local currency yen limited some gains in the session.

Nikkei 225 up by 17.93 points 0.05% to 38,929.12, Hang Seng rose by 150.84 points 0.75% to 20,229.94, Straits Times added by 8.97 points 0.25% to 3,634.22, Jakarta Composite higher by 0.93 points or 0.01% to 7,735.97, Taiwan Weighted enlarged by 381.06 points or 1.65% to 23,434.90, Shanghai Composite widened by 21.25 points or 0.67% to 3,190.63, and FTSE Bursa Malaysia KLCI lifted by 5.57 points or 0.34% to 1,647.01

On the flip side, KOSPI Index down by 16.47 points or 0.63% to 2,592.83.
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