On March 13, 2024, Asia-Pacific markets showed mostly positive trading Trends, influenced by gains on Wall Street. Investors appeared to overlook recent trade disruptions and disappointing earnings from U.S. technology companies.
- Lujiazui skyline view in Shanghai, China.
- Asia-Pacific markets mostly higher on Thursday.
- India's central bank may cut interest rates.
- U.S. major indexes gained for two days.
- Nvidia shares rose over 5% after news.
- Disappointing U.S. tech earnings reported recently.
Asia-Pacific markets experienced a generally positive trading day on March 13, 2024, with most indices reflecting gains. Australia’s S&P/ASX 200 index rose by 1.14%, while Japan’s Nikkei 225 increased by 0.46%. South Korea’s Kospi advanced by 0.93%, and the small-cap Kosdaq saw a rise of 1.09%. In contrast, India’s Nifty 50 index declined by 0.16% as the BSE Sensex remained around the flatline.
Investors in the region were buoyed by the performance of U.S. markets, where the Dow Jones Industrial Average climbed 317.24 points, or 0.71%, to close at 44,873.28. The S&P 500 and Nasdaq Composite also posted gains of 0.39% and 0.19%, respectively. Notably, Nvidia’s stock surged over 5% following an announcement from Super Micro Computer regarding the full production of its AI data center using Nvidia’s Blackwell platform.
India’s central bank is currently holding a policy meeting, with expectations of a benchmark interest rate cut aimed at stimulating the economy. The decision is anticipated to be announced on Friday. This move is critical as the Indian economy faces challenges, and the central bank aims to provide support through monetary policy adjustments.
In summary, while Asia-Pacific markets showed resilience with gains across several indices on March 13, 2024, India’s Nifty 50 faced a slight decline amid expectations of a forthcoming interest rate cut. The U.S. market’s positive performance, particularly driven by Nvidia’s advancements, provided a supportive backdrop for regional trading.
