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Asia markets mixed mirroring global sentiment as traders digest latest remarks from Fed

by Index Investing News
April 4, 2024
in Financial
Reading Time: 1 min read
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Japan (NKY:IND) +0.81%.

China (SHCOMP) market closed.

Hong Kong (HSI) market closed.

India (SENSEX) -0.09%.The HSBC India Composite PMI was revised upward to 61.8 in March 2024 from a preliminary reading of 61.3, pointing to the second-strongest upturn in over 13-1/1 years.

The HSBC India Services PMI was revised higher to 61.2 in March 2024 from preliminary estimates of 60.3 and a final 60.6 in the previous month.

Australia (AS51) +0.45%. Australian Services PMI (March, final) 54.4 (prior 53.1).

Australian data – February building approvals: -1.9% m/m (expected +3.3%).

In the U.S. on Wednesday, all three major indexes ended mixed as Fed Chair Powell indicated the central bank needed more time to evaluate the current state of inflation. Fed Chair Jerome Powell said on Wednesday that the central bank will need more evidence that inflation is moving sustainably toward the 2% target before cutting interest rates.

U.S. stock futures edged higher on Thursday after the major averages ended mixed in the last session: Dow +0.19%; S&P 500 +0.26%; Nasdaq +0.32%.

Traders await the latest US monthly jobs report.

Currencies: (JPY:USD), (CNY:USD), (AUD:USD), (INR:USD), (HKD:USD), (NZD:USD).

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