# Asia-Pacific Markets Rise as Weakening Yen Supports Japanese Market

- Link: https://www.thailand-business-news.com/markets/171478-asia-pacific-markets-rise-as-weakening-yen-supports-japanese-market
- Published: 2024-10-28T18:44:23+07:00
- Author: Abhishek Prakash

**Asian markets rose on Monday, led by Japan’s Nikkei, following LDP’s election 
loss and yen depreciation. Oil prices fell amid Middle East tensions; gold slightly
decreased. US markets were mixed.**

## Asia Pacific Markets Rally

On Monday morning, October 28, the Asia Pacific markets saw an upward trend. Japan’s
Nikkei index led the gains, reportedly due to the Liberal Democratic Party’s loss
in the lower house elections. The depreciation of the yen, which hit a low of 153.32
against the USD, also bolstered Japan’s market.

### Related**Posts**

###  󠀁[Thailand Business News — Morning Briefing](https://www.thailand-business-news.com/banking/337929-thailand-business-news-morning-briefing-5)󠁿

###  󠀁[Thailand Business News — Morning Briefing | 29 October 2026 | Thailand, ASEAN and Global Markets](https://www.thailand-business-news.com/markets/commodities/337096-thailand-business-news-morning-briefing-29-october-2026-thailand-asean-and-global-markets)󠁿

###  󠀁[Thailand, ASEAN and Asian Markets — Morning Briefing](https://www.thailand-business-news.com/china/336918-thailand-asean-and-asian-markets-morning-briefing)󠁿

###  󠀁[Anthropic’s S-1 filing sparks global AI rebound, sending Asian tech stocks soaring](https://www.thailand-business-news.com/markets/336880-anthropics-s-1-filing-sparks-global-ai-rebound-sending-asian-tech-stocks-soaring)󠁿

ADVERTISEMENT

The Nikkei rose by 1.51% to 38,485.48, while South Korea’s KOSPI climbed 0.58% to
2,598.27. Australia’s ASX 200 saw a modest rise of 0.15% to 8,223.9. Meanwhile, 
indices in China, including Shanghai’s SSEC, Hong Kong’s HSI, and Shenzhen’s SZI,
also showed minor increases.

## US Market Fluctuations and Commodity Volatility

In the US, markets had mixed results last Friday, with the Dow Jones Industrial 
Average dropping by 0.61% to 42,114.4, and the S&P 500 sliding 0.03% to 5,808.12,
whereas the NASDAQ gained 0.56% to 18,518.61. The VIX increased by 6.55% to 20.33.
Commodities saw a rise on Friday, driven by Middle East tensions and upcoming US
elections, with Brent futures and West Texas Intermediate both seeing significant
increases. However, by Monday morning, Brent futures fell by 4.26% to $72.81, and
WTI decreased by 4.44% to $68.59. Gold futures also experienced a slight dip, dropping
by 0.37% to $2,744.5 per Troy ounce.