On Thursday morning (28 November, 9:36 AM, GMT+7, Bangkok time), indices in Asia Pacific traded mixed after Wall Street paused gains, while investors assessed South Korea’s surprise rate cut and US inflation data.
The Bank of Korea made a surprise decision to reduce its key interest rate by 25 basis points to 3.0%, while expectations were for the BOK to halt its monetary easing in the current month, after implementing a 25-basis-point reduction in October.
The U.S. personal consumption expenditure price index (PCE) increased by 2.3% annually, up from 2.1% in September. Core inflation, which excludes food and energy prices, saw a 2.8% rise over the 12 months leading up to October, compared to 2.7% in the prior month. These figures aligned with the forecasts of economists surveyed by Reuters, based on LSEG data.
Japan’s NIKKEI rose by 0.3% to 38,248.92. South Korea’s KOSPI added by 0.01% to 2,503.22, and Australia’s ASX 200 grew by 0.67% to 8,462.7.
As for stocks in China, Shanghai’s SSEC slid by 0.2% to 3,303.2. Hong Kong’s HSI dropped by 1.01% to 19,405.43, and Shenzhen’s SZI decreased by 0.77% to 10,484.88.
Meanwhile, the US stock markets edged down on Wednesday as the Dow Jones Industrial Average (DJIA) contracted by 0.31% to 44,722.06. NASDAQ declined by 0.6% to 19,060.48, and S&P 500 lost 0.38% to 5,998.74. VIX remained unchanged at 14.1.
As for commodities, oil prices barely moved on Wednesday as investors assessed a ceasefire agreement between Israel and Hezbollah, alongside expectations surrounding the upcoming OPEC+ meeting scheduled for Sunday, with a possibility that the group may opt to postpone a scheduled rise in oil production. Brent futures climbed 2 cents or 0.03% to $72.83 a barrel, while the West Texas Intermediate (WTI) dipped 5 cents or 0.07% to $68.72 per barrel.
This morning, Brent futures slid 5 cents or 0.07% to $72.78 a barrel, and the WTI edged down 3 cents or 0.04% to $68.69 per barrel.
Meanwhile, gold futures shrank 0.42% to $2,628.7 per Troy ounce.
