On Thursday morning (21 August, 9:14 AM, GMT+7, Bangkok time), major indices in Asia Pacific traded mixed following the downward momentum from U.S. markets, where technology shares dragged key indices lower.
Investors are bracing for potential volatility ahead of Jerome Powell’s final keynote address as Federal Reserve Chair at Jackson Hole. Market attention is locked on whether Powell will hint at interest rate cuts for the central bank’s September meeting, especially after weak July jobs data raised expectations for policy easing, despite his recent hawkish tone.
Market participants are also turning their focus to India, where the upcoming HSBC Composite flash PMI figures will offer fresh insights into the health of the country’s private sector for August. The reading, due later today, is anticipated to slip slightly to 60.5, according to a Reuters survey of economists, from a previous figure of 61.1 in July.
South Korea’s KOSPI surged by 0.86% to 3,156.99. Australia’s ASX 200 grew by 0.72% to 8,982, while Japan’s NIKKEI declined by 0.31% to 42,754.23.
As for stocks in China, Hong Kong’s HSI contracted by 0.18% to 25,120.24. Shenzhen’s SZI dropped by 0.3% to 11,891.14, while Shanghai’s SSEC climbed by 0.02% to 3,766.78.
The U.S. stock markets edged down on Wednesday as NASDAQ lost 0.67% to 21,172.85. S&P 500 fell by 0.24% to 6,395.78, while the Dow Jones Industrial Average (DJIA) rose by 0.04% to 44,938.31. VIX expanded by 0.77% to 15.69.
As for commodities, oil prices settled higher on Wednesday after U.S. crude stockpiles posted a sharper decline than anticipated, with traders monitoring developments in negotiations over the Ukraine conflict, while restrictions on Russian oil exports continue to hold. Brent futures added $1.05 or 1.6% to $66.84 a barrel, and the West Texas Intermediate (WTI) for September advanced 86 cents or 1.4% to $63.21 per barrel.
This morning, Brent futures escalated 23 cents or 0.34% to $67.07 a barrel, and the West Texas Intermediate (WTI) for October increased 31 cents or 0.49% to $63.02 per barrel.
Meanwhile, gold futures slid by 0.1% to $3,385.2 per Troy ounce.
