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Friday, March 29, 2024

Asian shares mostly higher as inflation worries dog Wall St

BANGKOKShares were mostly higher in Asia on Monday after Wall Street closed out another bumpy week with a mixed performance.

U.S. futures edged lower, while oil prices advanced. U.S. markets will be closed for a holiday Monday.

China left its benchmark lending rate, the loan prime rate, unchanged as expected. The 1-year rate was kept at 3.65% while the 5-year rate is 4.3%.

Hong Kong’s Hang Seng index gained 0.8% to 20,887.16 while the Shanghai Composite index jumped 1% to 3,255.80. Tokyo’s Nikkei 225 was unchanged at 27,513.45.

South Korea’s Kospi added 0.3% to 2,458.67 and Australia’s S&P/ASX 200 edged 0.1% higher to 7,355.00. Shares in Southeast Asian markets declined, apart from in Bangkok, where the SET gained 0.4% in morning trading.

Recent data have revived worries that inflation in the United States is not cooling as quickly as hoped. That has shaken hopes the Federal…

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