Asia Pacific Markets Rise ahead of RBA’s Rate Decision

On Tuesday morning (18 June, 9:25 AM, GMT+7, Bangkok time), indices in Asia Pacific grew across the region following the rise in the US markets. Meanwhile, investors awaited an interest rate decision from the Reserve Bank of Australia, which was expected to be steady at 4.35%.

On the other hand, Bank of Japan Governor Kazuo Ueda informed the parliament that a rate hike in July is a possibility, contingent on the economic indicators, Reuters reported.


Japan’s NIKKEI soared by 1.01% to 38,488.23. South Korea’s KOSPI gained 0.91% to 2,768.99, and Australia’s ASX 200 surged by 0.87% to 7,767.5.

As for stocks in China, Shanghai’s SSEC grew by 0.2% to 3,021.96. Hong Kong’s HSI rose by 0.25% to 17,981.04, and Shenzhen’s SZI climbed by 0.18% to 9,297.59.


Meanwhile, the US stock markets edged up on Monday as the Dow Jones Industrial Average (DJIA) increased by 0.49% to 38,778.1. NASDAQ grew by 0.95% to 17,857.02, and S&P 500 surged by 0.77% to 5,473.23. VIX climbed by 0.71% to 12.75.


As for commodities, oil prices settled higher on Monday following optimism from investors on the demand outlook in 2H24. Assurances from OPEC+ that the plan to increase supplies starting in 4Q24 could be halted or reversed depending on market conditions also contributed to the strengthening of prices. Brent futures increased $1.63 or 2% to $84.25 a barrel, and the West Texas Intermediate (WTI) rose $1.88 or 2.4% to $80.33.

This morning, Brent futures gained 2 cents or 0.02% to $84.27 a barrel, and the WTI slid 4 cents or 0.05% to $80.29 per barrel.

Meanwhile, gold futures edged up by 0.39% to $2,338 per Troy ounce.