What happened overnight, Thursday 21st March 2024 Share Talk [Video]

Most Asian stock markets closed higher, buoyed by a surge in US stocks to record levels following the Federal Reserve’s announcement of potential interest rate cuts later in the year.

In Japan, the Nikkei 225 soared 2%, adding 812.06 points to settle at 40,815.66, while the broader Topix index advanced 1.6%, gaining 45.24 points to close at 2,796.21.

This upward trend was further supported by Japan’s government data indicating an 8% increase in exports in February compared to the previous year, marking the third consecutive month of growth. This rise was primarily driven by higher shipments of cars and electrical machinery, contributing to a substantial reduction in the trade deficit compared to the previous year.

In Hong Kong, the benchmark index climbed 1.8% to 16,836.46. Conversely, the Shanghai Composite in China saw a minor dip of 0.2%, finishing at 3,073.37, following the Chinese government’s introduction of new economic support measures.

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