Asian Session Close KOSPI Hits Record High as Markets React to Rate Cut Hopes and Robust Investor Sentiment

# Asian Session Close: KOSPI Hits Record High as Markets React to Rate Cut Hopes and Robust Investor Sentiment

**Note**: This analysis is generated at the close of the Asian session, focusing on end-of-day performance in Asian markets. Event times are in US Eastern Time.

The Asian session concluded with mixed performances across major indices, reflecting varied market sentiment. Shanghai Composite led gains, while TAIEX lagged, driven by regional economic data and global cues.

## Asian Indices Performance at Close

## Market Commentary at Asian Session Close

**Asian Market Summary – Close of Session (September 15, 2023)**

**Japan:**
The Nikkei 225 closed at 44,768.12, gaining 0.89%, buoyed by positive investor sentiment as security measures ramped up ahead of the world athletics championships in Tokyo. The anticipation of increased tourism and economic activity related to the event contributed to the bullish market outlook.

**China:**
In China, the Shanghai Composite ended slightly lower at 3,870.60, down 0.12%, while the Shenzhen Component fell by 0.43% to 12,924.13. Despite the overall decline, Pop Mart, a prominent toymaker, saw its shares rise after launching a new line of gold jewelry, reflecting the brand’s growing popularity. Meanwhile, China’s consumer robotics sector is gaining traction overseas, indicating a potential shift in market strategy for local manufacturers.

**Hong Kong:**
The Hang Seng Index rose 1.16% to close at 26,388.16, reflecting optimism regarding the property sector, as JPMorgan indicated that the worst may be over, with expectations of interest rate cuts driving investor interest in distressed assets. The positive sentiment was also supported by a broader regional rally in equities.

**South Korea:**
The KOSPI surged to a record high of 3,395.54, a 1.54% increase, driven by a rally in semiconductor stocks and optimistic projections for U.S. Federal Reserve rate cuts. The Korean won appreciated against the dollar as foreign investors net purchased over 1.4 trillion won in local shares. This momentum was further supported by government pledges to bolster the AI and robotics sectors.

**Singapore:**
The Straits Times Index closed down 0.27% at 4,344.24. Sun Life Singapore launched new wealth management products for high-net-worth families, indicating strong demand in the wealth sector. However, overall market sentiment was tempered by broader regional trends.

**Thailand:**
The SET Index in Thailand rose by 0.43% to 1,293.62, reflecting a stable investment environment amid ongoing economic recovery efforts.

**Commodities and Currencies:**
Late-session volatility was minimal, with commodities largely stable. The Asian currencies experienced mixed movements, with the Korean won strengthening against the U.S. dollar, while the Chinese yuan faced slight downward pressure.

**Cryptocurrency:**
In the crypto market, sentiment remained cautious amid regulatory

## FX, Commodities, and Crypto Performance

At the close of the Asian session, the FX market exhibited mixed performance. The USD/JPY rose by 0.42% to 147.7780, reflecting a strengthening yen against the dollar, while the AUD/USD declined by 0.14% to 0.6652, indicating bearish sentiment towards the Australian dollar. In commodities, gold increased by 0.41% to 3688.70, and crude oil gained 0.66% to 62.78, suggesting a stable demand outlook. In the cryptocurrency sector, Bitcoin fell by 0.44% to 114,997.48, contrasting with Ethereum’s rise of 1.16% to 4,512.98, reflecting divergent investor sentiment

**FX Pairs**

**Commodities**

**Cryptocurrencies**