On Monday’s trading session, Asian stock markets may be influenced by Friday’s performance in the US markets; FOMC Member Commentary Draws Attention

Asian stock market may take direction from Friday’s US trading session, which saw the Nasdaq Composite Index go up by 0.16%, while the Dow and S&P 500 went down by 0.77% and 0.14%, respectively. 

Notably, FOMC member Raphael Bostic’s less dovish stance on potential interest rate cuts in 2024 has gained interest from investors, contrasting with previous expectations. 

The mixed performance in US equities and declines in gold and oil prices could influence today’s trading session. In addition, investors are also monitoring US futures and events on the Asian economic calendar, including the Bank of Japan’s Monetary policy meeting minutes from January. However, investors may consider the information outdated given the recent developments.

Despite this, commentary from the Bank of Japan and stimulus discussions from Beijing remain potential market moves. 

Japan’s Nikkei 225 was down by 1.2% to 40,414.12, as investors sold their shares to lock in gains after the benchmark recently hit record highs. 

On the other hand, Hong Kong’s Hang Seng index went up by 0.2% to 16,535.89, while the Shanghai Composite went up by 0.3% to 3,056.52. Shenzhen index dropped by 1.49% trading at 9,422.61.

South Korea’s Kospi, witnessed a slight drop of 0.4%, trading at 2,737.57, while India’s Nifty 50 went up by 0.39%, trading at 22,096.75. ASX 200 also went up by 0.53%, trading at 7,811.90