Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks IPOs and placings
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Asia report: Most markets rise after Fed rate pause
(Sharecast News) - Asia-Pacific markets were mainly green on Thursday, with South Korea leading the gains after the US Federal Reserve maintained its benchmark interest rates. Investors took comfort in the Fed's move while closely scrutinising fresh inflation and trade data from the region.
Patrick Munnelly, market analyst at TickMill Group, said Asia markets rallied with shares and bonds gaining, following comments from the Fed indicating a potential halt to interest rate hikes and even the possibility of rate cuts.
"Japan's Nikkei share average surpassed the psychologically-significant 32,000 mark for the first time in two weeks," he said.
"This surge was driven by market expectations of an end to the Federal Reserve's tightening of monetary policy and a peak in US bond yields.
"The Nikkei's 225 components had a mixed performance, with 136 rising, 88 falling, and one remaining flat."
Munnelly noted that in China, the blue-chip Shanghai Composite dipped, while Hong Kong's Hang Seng saw a notable increase.
"The non-committal stance of the Fed chief led investors to strengthen their bets on a pause in the interest rate hike cycle and the possibility of rate cuts, contributing to the positive market sentiment."
Most markets rise, Seoul leads gains
In Japan, the Nikkei 225 rose by 1.1% to 31,949.89, and the Topix index increased by 0.51% to 2,322.39.
Advantest, Kikkoman, and Dainippon Screen Manufacturing performed well on Tokyo's benchmark, with gains of 10%, 8.05%, and 7.7%, respectively.
China's markets, on the other hand, faced some pressure, with the Shanghai Composite falling by 0.45% to 3,009.41 and the Shenzhen Component declining by 0.94% to 9,734.77.
China Bester Group Telecom and EmbedWay Technologies Shanghai experienced losses in Shanghai, dropping by 8.56% and 6.84%, respectively.
In Hong Kong, the Hang Seng Index increased by 0.75% to 17,230.59, driven by the strong performance of Link Real Estate Investment Trust, Xiaomi, and Henderson Land, which recorded gains of 6.69%, 6.05%, and 4.62%, respectively.
South Korea's Kospi outperformed other markets, surging by 1.81% to 2,343.12.
Notable gainers in Seoul included POSCO Future M and SKC, with impressive increases of 11.13% and 9.75%, respectively.
Australia's S&P/ASX 200 also saw gains, rising by 0.9% to 6,899.70, with Mercury NZ and Pinnacle Investment Management posting notable increases of 7.45% and 5.97%, respectively.
In New Zealand, the S&P/NZX 50 surged by 1.78% to 11,044.44, with Mercury NZ and Investore Property leading the way with respective gains of 5.55% and 4.27%.
Currencies in the region saw strength, with the dollar last down 0.47% on the yen at JPY 150.24, as it fell 0.77% against the Aussie to trade at AUD 1.5521, and by 0.98% on the Kiwi, last changing hands at NZD 1.6939.
In oil markets, Brent crude futures were last up 1.74% on ICE at $86.10 per barrel, and the NYMEX quote for West Texas Intermediate rose 1.93% to $81.99.
Inflation hastens in Korea; retail sales growth slows in Hong Kong
In economic news, South Korea's inflation rate continued its upward trajectory for the third consecutive month in October, reaching 3.8% year-on-year.
That exceeded the expectations of economists polled by Reuters, who had pencilled in a 3.6% increase.
It also surpassed the 3.7% rise recorded in September.
Meanwhile, Hong Kong's retail sector faced headwinds as retail sales in September experienced their slowest growth rate since January.
Official data showed a year-on-year increase of 13% - slightly lower than the prior month's 13.7% rise.
Australia, on the other hand, saw adjustments in its balance of goods for September, with official data indicating a narrowing to AUD 6.79bn on a seasonally adjusted basis.
That was the narrowest balance since March 2021 and was also below Reuters-polled expectations for a figure of AUD 9.64bn.
Exports declined by 1.4%, primarily driven by a decrease in non-monetary gold shipments, while imports jumped 7.5%, with a 74% increase in industrial transport equipment imports.
Reporting by Josh White for Sharecast.com.
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity and Inclusion | Doing Business with Fidelity | Fidelity gender pay report | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Security | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.