According to ME News, on Friday, September 4 (UTC+8), most stock markets in Asia’s emerging markets rose, with Singapore’s Straits Times Index reaching a new all-time high. This followed comments from Federal Reserve Governor Waller, which led investors to reduce their bets on a September rate hike by the Fed. The MSCI Emerging Asia Stock Index gained 1.4%, on track for its best single-day performance in nearly seven trading days. The Straits Times Index rose as much as 0.9% to a record high of 5,807.16, led by blue-chip banking stocks. For the week, the index has climbed 1.9%, on pace for its best weekly performance since early July. Buoyed by this, the MSCI ASEAN Index reached its highest level in nearly seven trading days, up 1% so far this week. (Jin10) (Source: ODAILY)
Asian markets rise on reduced expectations of Fed rate hikes, Singapore index reaches record high
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Summary
On-chain data shows Asian emerging markets rose on September 4, with Singapore’s Straits Times Index reaching 5,807.16, a record high. On-chain analysis reveals reduced speculation of a Fed rate hike following Waller’s comments. The MSCI Emerging Asia Index climbed 1.4%, its strongest gain in nearly seven sessions. Blue-chip banking stocks led the rally. The Straits Times Index rose 1.9% for the week, while the MSCI ASEAN Index hit a seven-day high, up 1% this week.
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