The Korean stock market was closed for a substitute holiday, while the Chinese and Hong Kong markets showed an upward trend.
According to the financial investment industry on the 6th, the Shanghai Composite Index in China closed at 3316.11, up 1.13% (37.08 points) from the previous trading day. The Shenzhen Composite Index recorded an increase of 2.25% (43.11 points) to 1958.73. The Hong Kong Hang Seng Index and H Index showed increases of 1.05% (235.32 points) and 0.73% (60.27 points), respectively, as of 3 p.m. local time.
There were also some negative factors, including the Caixin services purchasing managers' index (PMI), released by Chinese financial information provider Caixin, which recorded a lowest level in seven months at 50.7. However, with U.S.-China tariff negotiations ongoing, the estimated number of people traveling during China's Labor Day Golden Week (May 1-5) exceeded expectations at 1.46 billion, indicating that the market appears to be paying more attention to the possibility of improvement in the domestic market.
The Taiwan Weighted Index closed down 0.05% (10.4 points) at 20,522.59. In the midst of the Taiwanese dollar rapidly appreciating against the U.S. dollar, authorities have intervened, but the Weighted Index showed a lackluster performance for two days in a row.
Although the Japanese stock market was closed for a substitute holiday for 'Green Day', Nikkei average futures on the Singapore Stock Exchange showed an upward trend of 0.24% as of 3:10 p.m.
Market attention is focused on the regular meeting of the U.S. Federal Open Market Committee (FOMC) taking place from the 6th to the 7th (local time). The market expects the Federal Reserve to keep the benchmark interest rate unchanged this time. However, as the U.S. economy posted a negative growth rate in the first quarter of this year, expectations have arisen that Fed Chair Jerome Powell will provide signals regarding the timing of interest rate cuts.