Nikkei 225, Hang Seng Index, CSI 300
The Sydney Opera House Sydney, New South Wales, Australia.
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Asian-Pacific markets saw a positive start on Thursday following Wall Street’s gains driven by growing hopes of a Fed rate cut and a rebound in tech stocks.
Japan’s Nikkei 225 index surged 1.42%, with tech stocks leading the rally, while the Topix index also posted a gain of 0.64%. Advantest, SoftBank, and Tokyo Electron were among the top gainers.
South Korea’s Kospi rose 1.05%, and the Kosdaq climbed 0.39%. Meanwhile, Australia’s ASX/S&P 200 index increased by 0.42%.
The Hang Seng Index futures pointed to a flat open in Hong Kong, while investors awaited China’s industrial profit data for the first 10 months of the year.
In the US, major indexes logged four consecutive days of gains on expectations of a Fed rate cut in December. The CME FedWatch tool indicated an 85% probability of a rate cut next month.
Shares of Oracle surged over 4% on Wednesday, boosting market performance after Deutsche Bank reiterated its positive outlook on the company.
The Dow Jones Industrial Average gained 314.67 points, the S&P 500 climbed 0.69%, and the Nasdaq Composite increased by 0.82%.
— CNBC’s Sean Conlon and Pia Singh contributed to this report.
