India’s benchmark indexes hit a record high Thursday as Asia-Pacific markets tracked Wall Street gains on Fed rate-cut hopes and tech rebound.
The Nifty 50
Japan’s benchmark Nikkei 225AdvantestSoftBank GroupLasertec
South Korea’s Kospi advanced 0.66% to 3,986.91, while the small-cap Kosdaq climbed 0.31% to 880.06. The Bank of Korea kept its benchmark interest rate unchanged at 2.5% — in line with expectations — for a fourth consecutive policy meeting, amid a weakened local currency and overheated housing market. The Korean won has weakened against the greenback in recent months to its lowest level since April.
Australia’s ASX/S&P 200 rose 0.13% to close at 8,617.3.
Hong Kong’s Hang Seng Index
China’s industrial profits in October plunged 5.5% from a year earlier, government data showed Thursday. Profits for the first 10 months of the year rose 1.9% year on year, compared to the 3.2% rise in the January to September period.
Overnight, the key indexes in the U.S. logged four straight days of gains on rising hopes for a Federal Reserve interest rate cut in December. Investors see an 85% chance of a quarter-percentage-point rate cut in December, up from 30% last week, according to the CME FedWatch tool.
Shares of artificial intelligence player Oraclereaffirmed its bullish stance on the name.
On Wednesday stateside, the Dow Jones Industrial Average gained 314.67 points, or 0.67%, to finish at 47,427.12. The S&P 500 climbed 0.69% to settle at 6,812.61, while the Nasdaq Composite increased 0.82% to close at 23,214.69.
— CNBC’s Sean Conlon and Pia Singh contributed to this report.
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