Asian Shares Trade Mixed But Wall St Closes Near Record Finish

Asian shares traded mixed on Monday, March 25, 2024, as investors awaited further indications from the Federal Reserve regarding potential interest rate cuts, as reported by Yuri Kageyama for the Associated Press (AP).

Potential rate cuts are still being anticipated.

Japan’s Nikkei 225 declined by 0.7% to 40,619.40, as investors opted to sell shares to capture profits following the recent record highs achieved by the benchmark.

Meanwhile, Hong Kong’s Hang Seng index advanced by 0.5% to reach 16,584.22, and the Shanghai Composite index increased by 0.4% to 3,061.36. Australia’s S&P/ASX 200 also experienced gains, rising by 0.6% to 7,813.70.

Conversely, South Korea’s Kospi fell by 0.5% to 2,735.46. A senior Japanese finance official expressed concerns about the recent surge in the US dollar against the Japanese yen, prompting speculation about potential market intervention.

The dollar has surged to nearly 152 yen, marking a significant increase from slightly above 130 yen a year ago. On Monday, it was trading at 151.13 yen, slightly down from 151.41 yen.

Additionally, the euro was priced at $1.0814, slightly up from $1.0810.

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