On Friday (28 August, 9:35 AM, GMT+7, Bangkok time), most major indices in the Asia Pacific exhibited gains, driven in part by investor anticipation surrounding U.S. Federal Reserve Chair Kevin Warsh’s upcoming address at the Jackson Hole symposium.
Market participants are hoping the remarks will offer guidance on the potential direction of U.S. monetary policy. Meanwhile, momentum in technology shares, supported by Nvidia’s strong forward guidance, further contributed to positive sentiment, reinforcing investor optimism in the artificial intelligence sector.
With the Jackson Hole gathering not constituting a formal policy meeting, market watchers are focused on any commentary from Warsh that could indicate how the Fed is assessing interest rate policy moving forward. According to data from the CME FedWatch tool, futures markets are currently reflecting approximately a 64% probability that the Fed will maintain current interest rates at its next meeting.
In commodities, oil prices edged higher after diplomatic negotiations related to the Strait of Hormuz encountered challenges. Citing The Wall Street Journal, the Trump administration disclosed to intermediaries its intention not to revisit the memorandum of understanding reached with Iran in June.
Japan’s NIKKEI rose by 0.98% to 66,778.05. Australia’s ASX 200 grew by 0.31% to 9,066.30, while South Korea’s KOSPI declined by 1.03% to 6,841.49.
As for stocks in China, Shanghai’s SSEC increased by 0.24% to 3,965.98. Shenzhen’s SZI advanced by 0.21% to 14,077.62, and Hong Kong’s HSI climbed by 0.08% to 25,585.11.
The U.S. stock markets edged up on Thursday as the Dow Jones Industrial Average (DJIA) gained 0.20% to 53,569.44. NASDAQ jumped by 1.57% to 26,541.35, and S&P 500 surged 0.72% to 7,730.99. VIX slumped by 4.60% to 14.51.
As for commodities, oil prices settled higher on Thursday after a report indicated that President Donald Trump has no plans to renew an MOU with Iran. Brent crude futures advanced $1.86, or 2.1%, to settle at $89.70 per barrel. U.S. West Texas Intermediate crude futures increased $1.30, or 1.6%, ending the session at $83.53 per barrel.
This morning, Brent futures fell 29 cents, or 0.32%, to $89.41 per barrel, and the WTI futures decreased 19 cents, or 0.23%, to $83.34 per barrel.
Meanwhile, gold futures dropped by 0.59% to $4,636.60 per Troy ounce.
