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  • Sheryll Mericido

Asian markets had mixed performance due to holiday-related thin trading

Bangkok, October 02, 2023, According to a report by the Associated Press, Asian markets experienced mixed performance on Monday in light of thin trading due to several markets being closed for holidays.

In particular, Chinese markets remained closed for a weeklong holiday, as did South Korean markets. Meanwhile, in Tokyo, the Nikkei 225 index initially showed promise but eventually declined by 0.3% to reach 31,759.88. Australia's S&P/ASX 200 also saw a slight drop of 0.2% to 7,033.20. On the positive side, Taiwan's Taiex index experienced a notable gain of 1.2%, and the SET index in Bangkok edged 0.1% higher.

The surge in oil prices, reaching their highest levels in over a year, has been a concern as it has led to increased fuel costs, impacting the economy. In early Monday trading, US crude oil prices rose by 34 cents to reach $91.13 per barrel on the New York Mercantile Exchange. Despite a 92-cent drop on Friday, settling at $90.79, this marks a significant increase from the $70 level observed in June. Similarly, Brent crude, the global pricing standard, rose by 32 cents to $92.52 per barrel.

In currency markets on Monday, the dollar strengthened against the Japanese yen, reaching 149.65 yen from 149.38 yen. Conversely, the euro saw a decline, slipping from $1.0589 to $1.0575.

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