Aerial view of the capital city of Seoul in South Korea, seen at sunset.Tobiasjo | E+ | Getty Images
Asia-Pacific markets traded mixed on Thursday as investors assessed a slew of economic data in the region. China stocks led gains, with the CSI 300 climbing 1.01% to 3,835.34, as China’s financial regulators urged large state-owned mutual funds and insurers to purchase more shares to bolster the faltering stock market.
The Hong Kong’s Hang Seng index slipped 0.65%, while Australia’s S&P/ASX 200 traded 0.61% lower to close at 8,378.7. Japan’s Nikkei 225 rose 0.79% to close at 39,958.87, while the Topix added 0.53% to close at 2,751.74.
South Korea’s economy expanded 1.2% year on year in the fourth quarter, marking its slowest expansion since the second quarter of 2023. The Bank of Japan is holding its next policy meeting today and tomorrow, where the BOJ governor Kazuo Ueda has signaled intentions to hike rates.
In the US, the three major averages advanced overnight, with the S&P 500 hitting a fresh all-time high as technology shares such as Oracle and Nvidia rallied on artificial intelligence optimism and President Donald Trump’s new term in office. The S&P 500 advanced 0.61% after hitting an intraday record of 6,100.81, exceeding the last milestone touched in December before the market pullback. The broader index closed at 6,086.37, slightly below its all-time closing high.
The Nasdaq Composite popped 1.28% to 20,009.34, underscoring the outperformance of tech names. The Dow Jones Industrial Average rose 130.92 points, or 0.3%, to 44,156.73, boosted by Procter & Gamble’s gain of nearly 2% on the back of strong earnings.