Asia-Pacific Markets Rise after Powell’s Jackson Hole Speech on US Economic Growth

All Asia-Pacific indices rose in the morning session on Monday after the US central bank’s chair speech on Friday night about the progression on economic recovery though stating that further rate hikes will be needed.

The rise in the morning was led by China’s Shanghai index, SSEC, that rose by 2.3% over 3,130 and Shenzhen’s SZI with a 2.3% gain over 10,350. Hong Kong’s HSI rose by 1.8% over 18,280 and Japan’s NIKKEI also rose by 1.6% over 32,130. Meanwhile, Singapore’s STI edged higher by 1.2% to 3,220. Other indices remained positive under 1% gain.

Meanwhile, US Futures remained unchanged as S&P 500 still stood over 4,400 and NASDAQ over 15,000. Crude oil indices like WTI and Brent touched $80 and $85, respectively. Gold still remained unchanged at around $1,940.