06/28/2024 – 5:33
By Sergio Caldas*
São Paulo, 06/28/2024 – Asian stock markets closed higher this Friday, in a recovery from yesterday’s losses, while investors await US inflation data that could influence the trajectory of American basic interest rates.
Japan’s Nikkei index rose 0.61% in Tokyo to 39,583.08 points, boosted by shares of machinery manufacturers, trading companies and banks, as the recent weakness in the yen improves the outlook for profits, while South Korea’s Kospi advanced 0.49% in Seoul to 2,797.82 points, the Taiex gained 0.55% in Taiwan to 23,032.25 points, and the Hang Seng was virtually unchanged in Hong Kong, with a marginal increase of 0.01% to 17,718.61 points.
In mainland China, markets also ended the session in the black, favored by the good performance of telecommunications shares. The Shanghai Composite rose 0.73% to 2,967.40 points, and the less comprehensive Shenzhen Composite advanced 0.25% to 1,618.07 points. China Telecom and China Mobile had increases of 2.8% and 2.6%, respectively.
In the next few hours, the US will release a monthly survey on its PCE inflation, which tends to help the Federal Reserve (Fed, the American central bank) to define if and when it can start reducing interest rates.
In Oceania, the Australian stock market rose slightly, thanks to the strength of shares in the banking sector. The S&P/ASX 200 advanced 0.10% in Sydney, to 7,767.50 points.
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*With information from Dow Jones Newswires
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