Asia Pacific Markets Extend Gains as Investors Look ahead to Rate Cuts

On Friday morning (15 Dec, 9:30 AM, GMT+7, Bangkok time), Asia Pacific major indices soared for the second day after the US Fed, ECB and BOE held interest rates and prepared for cuts next year, while investors also kept their eyes on China economic data.

 

Japan’s NIKKEI climbed by 1.28% to 33,105.87. South Korea’s KOSPI gained 0.99% to 2,569.36, and Australia’s ASX 200 edged up by 1.04% to 7,454.5.

As for stocks in China, Shanghai’s SSEC grew by 0.11% to 2,962.38. Hong Kong’s HSI rose by 2.37% to 16,790.92, and Shenzhen’s SZI increased by 0.24% to 9,440.26.

 

Meanwhile, the US stocks market climbed on Thursday as the Dow Jones Industrial Average (DJIA) edged up by 0.43% to 37,248.35. NASDAQ rose by 0.19% to 14,761.56, and S&P 500 gained 0.26% to 4,719.55. VIX increased by 2.38% to 12.48.

 

As for commodities, oil prices settled higher as the continuation of price gain came from a weaker dollar, and the International Energy Agency (IEA) anticipated more oil demand next year.

Brent rose by 3.2% to $76.61 per barrel, and the West Texas Intermediate (WTI) edged up by 3% to $71.58 a barrel. 

As for this morning, Brent gained 0.35% to $76.88 a barrel, and WTI grew by 0.36% to $71.84 per barrel. Furthermore, gold futures increased by 0.25% to $2,050 per Troy ounce.