SINGAPORE— Following Wall Street gains that saw the S&P 500 and Dow Jones Industrial Average hit fresh highs as investors dismissed geopolitical fears, Asia-Pacific markets closed higher on Thursday.
The S&P/ASX 200 index for Australia finished the day at 8,223 points, up 0.43%. The Kospi in South Korea finished at 2,603.25, up 0.34%, while the Kosdaq small-cap fell 0.22% to 776.52.
Japan's Nikkei 225 ended the day up 0.26% at 39,380.89, while the Topix, which is a broad index, closed up 0.2% at 2,71269.
Asia's traders were analyzing September data showing that producer prices in Japan increased 2.8% over the previous year. The inflation rate was expected to be 2.3%, down from 2.5% in August, according to economists surveyed by Reuters.
Investors also evaluated the Japanese retailer Seven & i Holdings Co.'s quarterly results report following the receipt of an updated takeover bid from Alimentation Couche-Tard.
Seven & I cut both its projected net profit and operating profit outlooks for the full year ending at the end of February. On Thursday, shares of Seven & I closed the trading day down 0.43%.
In the last hour of trading, Hong Kong's Hang Seng index was up 3%, while the mainland CSI 300 closed 1.06% up at 3,997.78.
The Chinese central bank said that it has started to accept applications from financial institutions to participate in a recently established liquidity tool. The tool will initially be worth 500 billion yuan ($70.7 billion), and it will make it simpler for the stock market to acquire capital.
The Chinese stock market's recovery comes following the Wednesday stalling of a market rally. The CSI 300 lost 7% after a winning run of ten days. A flurry of government stimulus plans at the end of September had set off the surge.
On October 12, China's Finance Ministry will host a press event where they might share more details about economic growth and fiscal policies.
Chetan Ahya, Chief Asia Economist at Morgan Stanley, stated in an interview with "Street Signs Asia" on Thursday that in order to generate a long-lasting improvement in investor confidence, Beijing would need to declare a fiscal stimulus of 10 trillion yuan ($1.4 trillion) with an emphasis on increasing consumption.
Although we don't expect them to act in that way, we do believe they'll need to take similar action to get the economy out of Ahya said.
Tags-SINGAPORE— Following Wall Street gains that saw the S&P 500 and Dow Jones Industrial Average hit fresh highs as investors dismissed geopolitical fears, Asia-Pacific markets closed higher on Thursday.
The S&P/ASX 200 index for Australia finished the day at 8,223 points, up 0.43%. The Kospi in South Korea finished at 2,603.25, up 0.34%, while the Kosdaq small-cap fell 0.22% to 776.52.
Japan's Nikkei 225 ended the day up 0.26% at 39,380.89, while the Topix, which is a broad index, closed up 0.2% at 2,71269.
Asia's traders were analyzing September data showing that producer prices in Japan increased 2.8% over the previous year. The inflation rate was expected to be 2.3%, down from 2.5% in August, according to economists surveyed by Reuters.
Investors also evaluated the Japanese retailer Seven & i Holdings Co.'s quarterly results report following the receipt of an updated takeover bid from Alimentation Couche-Tard.
Seven & I cut both its projected net profit and operating profit outlooks for the full year ending at the end of February. On Thursday, shares of Seven & I closed the trading day down 0.43%.
In the last hour of trading, Hong Kong's Hang Seng index was up 3%, while the mainland CSI 300 closed 1.06% up at 3,997.78.
The Chinese central bank said that it has started to accept applications from financial institutions to participate in a recently established liquidity tool. The tool will initially be worth 500 billion yuan ($70.7 billion), and it will make it simpler for the stock market to acquire capital.
The Chinese stock market's recovery comes following the Wednesday stalling of a market rally. The CSI 300 lost 7% after a winning run of ten days. A flurry of government stimulus plans at the end of September had set off the surge.
On October 12, China's Finance Ministry will host a press event where they might share more details about economic growth and fiscal policies.
Chetan Ahya, Chief Asia Economist at Morgan Stanley, stated in an interview with "Street Signs Asia" on Thursday that in order to generate a long-lasting improvement in investor confidence, Beijing would need to declare a fiscal stimulus of 10 trillion yuan ($1.4 trillion) with an emphasis on increasing consumption.
Although we don't expect them to act in that way, we do believe they'll need to take similar action to get the economy out of Ahya said.
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