A currency trader moves by the screens showing the Korea Composite Stock Price Index , left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, March 28, 2024. Asian shares were mixed on Thursday after U.S. stocks broke out of a three-day lull to close at a record.
“As the yen continues to show vulnerability, market participants will be vigilant for any hints of possible intervention in the currency market by Japanese policymakers,” Anderson Alves of ActivTrades said in a commentary.“We continue to think that policymakers in China and Japan will do enough to keep their currencies from weakening much further, but the risk of a break lower in one, or both, is increasing,” Jonas Goltermann of Capital Economics said in a report.
Australia's S&P/ASX 200 jumped 1% to 7,896.90. India's Sensex added 1.6% and Taiwan's Taiex slipped 0.3%.On Wednesday, the S&P 500 climbed 0.9% to a record 5,248.49 in its first gain since setting its last all-time high on March 21. GameStop tumbled 15% after delivering a profit for the latest quarter and a drop in revenue from the prior year. It’s the original meme stock, predating Trump Media by years.
The S&P 500 is on track for a fifth straight winning month and has been roaring higher since late October. The U.S. economy has remained remarkably resilient despite high interest rates meant to get inflation under control. Plus, the Federal Reserve looks set to start lowering interest rates this year because inflation has cooled from its peak.