Asian Markets were Divided after the US Market Slumped

On Nov. 18, Asian markets started the week with mixed performances following the US market plunge since Election Day. Japan’s Nikkei 225 fell 1.1% as the yen gained strength after Bank of Japan Governor Kazuo Ueda indicated further interest rate hikes when conditions allow. On the contrary, South Korea's Kospi surged 2.2% impacted by Samsung Electronics’ announcement of a share buyback plan, which propelled its stock up 6%.

 

 

 

Chinese markets showed divergence: Hong Kong’s Hang Seng Index climbed 0.8%, while the Shanghai Composite Index dipped 0.2% after relinquishing early gains. In Australia, the S&P/ASX 200 edged up 0.2%. Thailand's SET gained 0.8% on stronger-than-expected economic growth.

 

 

 

U.S. economic developments, particularly the Federal Reserve’s cautious stance on further interest rate cuts and uncertainty around President-elect Donald Trump’s policies, significantly impacted investor sentiment. Concerns over potential fiscal deficits and inflation under Trump's administration weighed on global markets including Asian markets.