Friday, 15 September 2023 08:13 WIB | MARKET UPDATE |Saham AsianBursa Asia

Stocks in Asia followed US benchmarks higher ahead of a slew of Chinese data, after strong US economic reports revived speculation the Federal Reserve will be able to engineer a soft landing. 

Equities in Australia rallied the most in two weeks while Japanese and Korean shares also climbed. Futures in Hong Kong advanced and contracts for US stocks rose following gains on the S&P 500 and Nasdaq 100 on Thursday as retail sales and producer prices beat estimates. The dollar was steady while the euro remains at its lowest level in five months after the European Central Bank likely hiked for a final time and downgraded growth forecasts on Thursday.   

Investors now turn their attention to economic data out of China after the nation’s central bank cut the amount of cash lenders must hold in reserve for the second time this year. The People’s Bank of China may also catch the market off guard again on Friday with a 10-basis-point MLF rate cut, the first time it has cut the rate back-to-back, according to Bloomberg Economics. 


S&P 500 futures rose 0.1% as of 9:38 a.m. Tokyo time. The S&P rose 0.8% Thursday.

Nasdaq 100 futures rose 0.1%. The Nasdaq 100 rose 0.8%.

Japan’s Topix rose 1%.

Australia’s S&P/ASX 200 rose 1.6%.

Euro Stoxx 50 futures rose 0.4%.

Source: Bloomberg

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