Asian markets showed mixed performance today. Hong Kong's Hang Seng Index surged 1.5% driven by tech stocks, while Singapore's Straits Times Index edged down 0.2% on profit-taking.
Asian equity markets closed mixed on Tuesday as investors weighed uncertainties surrounding the Federal Reserve's future rate cut trajectory. Hong Kong's Hang Seng Index was a notable outperformer, climbing 1.5%, bolstered by gains in technology giants like Tencent and Alibaba. Conversely, Singapore's Straits Times Index (STI) slipped 0.2% to 3180 points as investors engaged in profit-taking following recent gains. Regional sentiment was also influenced by the mixed close on Wall Street overnight, but the strong rebound in Hong Kong provided some support to Malaysian market sentiment. Analysts noted that Asian markets are currently awaiting the US core Personal Consumption Expenditures (PCE) data, which is expected to dictate short-term market direction.
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