Asian stock markets with mixed signals: Technology stocks benefit

The stock markets in the Asian region presented a mixed performance on Thursday, following the varied results of the previous days. Technology-oriented exchanges such as Hong Kong and South Korea were able to benefit from the ongoing strength of US technology stocks, while other markets recorded only slight losses. This inconsistent trend reflects the subdued reaction to recent stimuli from the US. Recent US inflation data and the latest meeting of the Federal Reserve painted a mixed picture. While the latest US consumer price data indicated a slowing inflationary dynamic, the Fed remained cautious in its stance. "Rapid interest rate cuts will not happen, that much is clear," explained Thomas Gitzel, economist at VP Bank. Fed Chair Jerome Powell emphasized the cautious and data-dependent approach of the monetary policy makers in the press conference. Gitzel added, "The projections for the next two years foresee rate cuts totaling 200 basis points. The credo is: Less this year, more next year." In Japan, the weak phase continued. The Nikkei 225 closed with a loss of 0.4 percent at 38,720.47 points. Market strategists at Deutsche Bank pointed to reports suggesting that the Bank of Japan may consider reducing its holdings of domestic government bonds at its upcoming meeting. In China, the developments were also mixed. The Hang Seng Index increased by 0.51 percent to 18,029.37 points, while the CSI 300 of the Chinese mainland exchanges fell by 0.56 percent to 3,524.14 points. Australia's stock market, on the other hand, recorded slight gains. The S&P/ASX 200 rose by 0.44 percent to 7,749.70 points. Additionally, the markets in India, South Korea, and Taiwan also closed with positive quotations, continuing the trend of the previous days.