On Friday morning (8 November, 9:22 AM, GMT+7, Bangkok time), indices in Asia Pacific increased across the region following the U.S. Federal Reserve’s decision to reduce interest rates by 25 basis points and the ongoing rally in major U.S. indexes postelection.
Traders are closely monitoring the final day of China’s National People’s Congress for anticipated fiscal stimulus aimed at bolstering the world’s second-largest economy.
In a parallel move, Hong Kong’s monetary authority slashed its benchmark interest rate by 25 basis points to 5%, aligning with the Fed.
In September, Japan saw a milder decline in household spending than anticipated, with real spending dropping by 1.1%, below the 2.1% consensus forecasted by Reuters polls.
Japan’s NIKKEI rose by 0.18% to 39,452.43. South Korea’s KOSPI grew by 0.81% to 2,585.53, and Australia’s ASX 200 increased by 0.9% to 8,300.1.
As for stocks in China, Shanghai’s SSEC surged by 0.72% to 3,495.67. Hong Kong’s HSI escalated by 0.73% to 21,105.76, and Shenzhen’s SZI soared by 1.08% to 11,357.35.
Meanwhile, the US stock markets extended gains on Thursday as NASDAQ jumped by 1.51% to 19,269.46. S&P 500 edged up by 0.74% to 5,973.1, while the Dow Jones Industrial Average (DJIA) remained unchanged at 43,729.34. VIX plummeted by 6.58% to 15.2.
As for commodities, oil prices settled higher on Thursday as investors assessed the implications of a Trump presidency and the recent interest rate decision by the Federal Reserve. Brent futures gained 71 cents or 0.95% to $75.63 a barrel, and the West Texas Intermediate (WTI) surged 67 cents or 0.93% to $72.36 per barrel.
This morning, Brent futures slid 22 cents or 0.29% to $75.41 a barrel, and the WTI dipped 32 cents or 0.44% to $72.04 per barrel.
Meanwhile, gold futures climbed 0.05% to $2,707.1 per Troy ounce.
