Asian and Pacific markets ended Thursday on a high note, buoyed by Wall Street’s recovery from its recent slide.
The Nikkei index in Tokyo climbed 1.21% to 38,157.94, reaching a 34-year peak.
This rally came as Japan reported entering a technical recession, lessening the chance of tighter monetary policy from its central bank.
Japan’s economy contracted by 0.4% in the last quarter after shrinking 2.9% in the third quarter, making it fall to fourth in global economic rankings, behind Germany.
Elsewhere, Hong Kong’s Hang Seng rose 0.41% to 15,944.63, and Taiwan’s Taiex jumped 3.03% to 18,644.57, rebounding from a holiday break.
Australia’s market also saw gains, with the S&P/ASX 200 up 0.77% to 7,605.70, halting a three-day losing streak.
Asian Stocks Climb After Wall Street Bounces Back
Contrastingly, South Korea’s Kospi slightly fell by 0.25% to 2,613.80.
These movements reflect Asia’s renewed risk appetite following the U.S. market’s partial recovery spurred by higher-than-expected consumer inflation data.
Meanwhile, China’s markets stayed closed for the Lunar New Year.
This dynamic underscores the interconnected nature of global financial markets and the impact of economic indicators on investor sentiment worldwide.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error
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