06/13/2024 – 5:38
By Sergio Caldas*
São Paulo, 06/13/2024 – Asian stock exchanges closed without a single direction this Thursday, as investors digested the latest monetary policy announcement from the Federal Reserve (Fed, the US central bank) and awaited interest rate decision from the Bank of Japan (BoJ).
Leading gains for the second day in a row, the Taiex index rose 1.19% in Taiwan to a new all-time high of 22,312.04 points, while South Korea’s Kospi rose 0.98% in Seoul to 2,754.89 points. and the Hang Seng rose 0.97% in Hong Kong, to 18,112.63 points.
On the other hand, Chinese markets were in the red, pressured by shares in the real estate sector. The Shanghai Composite fell 0.28% to 3,028.92 points, and the less comprehensive Shenzhen Composite fell 0.62% to 1,683.46 points. In Tokyo, the Japanese Nikkei dropped 0.40%, to 38,720.47 points, maintaining a cautious stance before the BoJ.
Yesterday, the Fed left its interest rates unchanged for the seventh time in a row, as was widely expected, but also signaled just one rate cut this year. In March, the American Central Bank predicted three interest rate reductions throughout 2024.
The BoJ, which announces its decision tomorrow (14), is not expected to raise interest rates again, as it did almost three months ago, but the Japanese economy is under pressure amid the prolonged strength of the dollar against the yen.
In Oceania, the Australian stock market recovered today, after accumulating losses in the previous two sessions, as local data showed a slight decline in unemployment. The S&P/ASX 200 advanced 0.44% in Sydney, to 7,749.70 points.
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*With information from Dow Jones Newswires
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