Market Commentary - Foreign Markets
China's Shanghai Composite index rise 0.49% As on : 18-Sep-24  16:04

Asian stocks ended Wednesday's session broadly higher as investors waited for the U.S. Federal Reserve's first cut to interest rates in more than four years.

There is a debate about the size of reduction after data showed U.S. retail sales unexpectedly ticked up in August in a sign of ongoing consumer resilience.

The U.S. dollar was muted below 101 mark in Asian trading and gold held steady while oil resumed slide after a two-day rally on concerns about the ongoing impact of Hurricane Francine on output in the U.S. Gulf of Mexico.

Trading was closed in Hong Kong for a national holiday. South Korea's market was also closed for thanksgiving Chuseok holidays.

China's Shanghai Composite index rose 0.49 percent to 2,717.28 on stimulus hopes as trading resumed after a holiday break.

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