On Monday morning (25 August, 9:13 AM, GMT+7, Bangkok time), major indices in Asia Pacific mirrored gains on Wall Street, following indications by Federal Reserve Chair Jerome Powell at the Jackson Hole symposium that the central bank might start easing its monetary policy next month.
Powell highlighted a significant level of uncertainty confronting policymakers, complicating decision-making processes. He elaborated on “sweeping changes” across tax, trade, and immigration landscapes, suggesting that these shifts are altering the balance between the Fed’s dual objectives: sustaining full employment and ensuring price stability.
While acknowledging the labor market’s solidity and the economy’s robustness, Powell noted that downside risks are intensifying. He pointed out that tariffs could reignite inflationary pressures, a stagflation scenario that the Fed aims to steer clear of.
Japan’s NIKKEI rose by 0.67% to 42,920.6. South Korea’s KOSPI grew by 0.76% to 3,192.68, and Australia’s ASX 200 increased by 0.16% to 8,981.5.
As for stocks in China, Shanghai’s SSEC expanded by 0.6% to 3,848.65. Hong Kong’s HSI gained 1.23% to 25,651.98, and Shenzhen’s SZI advanced by 0.89% to 12,273.95.
The U.S. stock markets edged up on Friday as the Dow Jones Industrial Average (DJIA) escalated by 1.89% to 45,631.74. NASDAQ jumped by 1.88% to 21,496.53, and S&P 500 soared by 1.52% to 6,466.91. VIX plummeted by 14.34% to 14.22.
As for commodities, oil prices settled slightly higher on Friday as uncertainty loomed over a possible peace agreement between Russia and Ukraine. Brent futures added 6 cents or 0.09% to $67.73 a barrel, and the West Texas Intermediate (WTI) climbed 14 cents or 0.22% to $63.66 per barrel.
This morning, Brent futures slid 2 cents or 0.03% to $67.71 a barrel, while the West Texas Intermediate (WTI) remained unchanged at $63.66 per barrel.
Meanwhile, gold futures fell by 0.32% to $3,407.5 per Troy ounce.
