Cherry blossom trees bloom near Nippon Budokan on Sunday, April 7, 2024 in Tokyo, Japan.
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Asia-Pacific stocks rose on Wednesday after the Dow Jones Industrial Average and S&P 500 closed at record highs overnight as traders grew increasingly bullish on interest rate cuts.
Japan’s Nikkei 225 Index A Reuters Tankan survey showed increased business optimism among Japan’s large manufacturers, with the Topix rising 0.23% and the Topix rising 0.44%.
The manufacturing index was +11, up from +6 last month. However, non-manufacturer confidence fell from +31 to +27.
In addition, Japanese authorities may intervene in the currency market last Thursday and Friday, spending a total of 6 trillion yen ($37.9 billion) in these two days. Reuters reports.
this JPY The current exchange rate against the US dollar is 158.3. The currency fell to 161.82 last Wednesday before rising to 157.41 the next day.
Australia’s S&P/ASX 200 index rose 0.29%, just shy of its all-time high of 8,037.3 points.
Korean Cospi Trading near the flat line, the small-cap Kosdaq rose 0.14%.
Hong Kong’s Hang Seng Index The futures index was at 17,843 points, higher than the Hang Seng Index’s last closing point of 17,727.98 points.
Investors will also focus on Singapore’s non-oil domestic export data due later in the day. Reuters reported that analysts expect a contraction of 1.2% this year, compared with a 0.1% decline the previous year.
Overnight, the Dow gained 1.85% to close at 40,954.48 points, while the S&P 500 rose 0.64% to close at 5,667.20 points. The Nasdaq rose 0.20%.
—CNBC’s Pia Singh contributed to this report.
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