Asia-Pacific markets traded mostly higher on Thursday, shrugging off a week of trade turmoil and disappointing U.S. tech earnings. Investors took cues from Wall Street’s gains overnight. In Australia, the S&P/ASX 200 climbed 1.23% to close at 8,520.7. Japan’s Nikkei 225 gained 0.61% to end at 39,066.53, while the Topix added 0.25% to finish at 2,742.2.
South Korea’s KOSPI rose 1.1%, closing at 2,536.75.
The small-cap Kosdaq advanced 1.28% to end the day at 740.32. In Hong Kong, the Hang Seng Index increased by 1.04% in its last hour of trade. The CSI 300, which tracks the largest mainland companies in China, added 1.26% to close at 3,842.83.
However, India’s Nifty 50 was down 0.48%, while the BSE Sensex fell 0.43%. India’s central bank, the Reserve Bank of India (RBI), is expected to cut benchmark interest rates, aiming to stimulate its slowing economy. The decision is anticipated to be announced on Friday.
Asia-Pacific markets show resilience
This would be the first rate cut in nearly five years, as easing inflation provides the necessary room for such a policy shift. Overnight in the U.S., the three major indexes showed gains for a second consecutive day despite the heavy losses suffered by some notable tech stocks due to poor earnings reports.
The Dow Jones Industrial Average advanced 317.24 points, or 0.71%, to close at 44,873.28. The S&P 500 increased by 0.39%, ending at 6,061.48, while the Nasdaq Composite added 0.19%, closing at 19,692.33. Shares of Super Micro surged over 8% following an announcement that the server maker would enhance its artificial intelligence data center using Nvidia’s Blackwell platform.
In Japan, Nissan’s CEO Makoto Uchida has reportedly proposed terminating merger discussions with Honda, citing delays in restructuring plans as a significant factor. Additionally, Bank of Japan board member Naoki Tamura suggested that it might be necessary to lift short-term interest rates to around 1% to manage inflation risks and achieve sustainable price stability by the second half of fiscal 2025. Asia-Pacific markets show resilience amid global trade challenges and unfavorable U.S. tech earnings.
India’s anticipated rate cut and ongoing corporate developments in Japan add significant points of interest for international investors.
