INTERNEWSTIMES.COM – Asia-Pacific markets closed higher on Thursday, fueled by a wave of optimism driven by China’s renewed commitment to boosting its economy. The gains followed a strong performance on Wall Street, where the S&P 500 and Dow Jones Industrial Average reached new records.
Australia’s S&P/ASX 200 ended the day up 0.43%, reaching 8,223 points. South Korea’s Kospi gained 0.34%, closing at 2,603.25, while the small-cap Kosdaq was down slightly. Japan’s Nikkei 225 gained 0.26%, ending at 39,380.89, while the broad-based Topix rose 0.2% to close at 2,71267.
The most significant gains were seen in China, where the mainland CSI 300 closed 1.06% higher at 3,997.78, while Hong Kong’s Hang Seng index was up 3% in its final hour of trading. The rebound in Chinese stocks comes after a market rally stalled on Wednesday, with the CSI 300 breaking a 10-day winning streak. The rally had been triggered by a blitz of government stimulus measures at the end of September.
China’s central bank has announced the launch of a new liquidity tool, initially worth 500 billion yuan ($70.7 billion), to facilitate investors to buy shares. The move is seen as a further sign of Beijing’s commitment to supporting its stock market and stimulating economic growth.
Investors are also looking ahead to the release of September consumer price data in the U.S., which is expected to show core inflation holding steady at 3.2% year-on-year. The data will provide further insights into the Federal Reserve’s future monetary policy decisions.
Despite the positive sentiment, geopolitical concerns remain a factor in the market. Israel’s vow to retaliate against Iran for last week’s ballistic missile strike has raised concerns about a broader war in the Middle East.
The strong performance in Asia-Pacific markets suggests that investors are increasingly optimistic about the global economic outlook, particularly in China. However, the potential for geopolitical instability and the ongoing economic challenges in some regions remain key factors to watch. (Red)
