Asia Pacific Markets Trade Mixed as Investors Anticipate Rate Cuts from ECB

On Tuesday morning (28 May, 9:21 AM, GMT+7, Bangkok time), major indices in Asia Pacific traded mixed as the European Central Bank (ECB) signaled potential rate cuts in June. Meanwhile, Australian retail sales grew by 0.1% on a monthly basis in April, lower than the expectation of a 0.2% rise polled by Reuters.


Japan’s NIKKEI decreased by 0.24% to 38,808.59. Australia’s ASX 200 slid by 0.18% to 7,774.5, while South Korea’s KOSPI rose by 0.24% to 2,729.5.

As for stocks in China, Shanghai’s SSEC edged up by 0.05% to 3,125.65. Hong Kong’s HSI grew by 0.52% to 18,925, while Shenzhen’s SZI dropped by 0.27% to 9,482.47.


Meanwhile, the US stock markets were closed on Monday for a public holiday.


As for commodities, oil prices settled higher on Monday amid a narrow trade activity during public holidays in Britain and the United States. Traders were monitoring any movement for interest rates from the US Fed and the ECB. Brent futures gained $1 or 1.2% to $83.12 a barrel, and the West Texas Intermediate (WTI) increased 93 cents or 1.19% to $78.65.

This morning, Brent futures edged up 10 cents or 0.12% to $83.2 a barrel, and the WTI surged $1.08 or 1.39% to $78.8 per barrel.

Meanwhile, gold futures soared by 0.87% to $2,354.8 per Troy ounce.