Red flags fly at Tiananmen Square in Beijing, China, Wednesday, July 10, 2024.
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Asia-Pacific markets are set to climb higher on Thursday, with China expected to extend gains and other markets in the region also rebounding.
The CSI 300 Index rose for five consecutive days, reaching a record higheThe index hit a new high in nearly two months after Beijing launched a series of economic stimulus measures on Tuesday. At the same time, Hong Kong Hang Seng Index A third straight day of gains was expected, according to futures data.
Hang Seng Index futures were at 19,336 points, higher than the Hang Seng Index’s last closing point of 19,129.1 points. Hong Kong’s index has tracked gains in mainland stocks and hit its highest level since May.
Australia’s S&P/ASX 200 index futures were at 8,195 points, slightly higher than the previous closing point of 8,126.4 points.
Japanese Nikkei 225 Index Futures also signaled a rebound in the market, with the Chicago futures contract at 38,295 and the Osaka futures contract at 38,110, compared with the previous closing price of 37,870.26.
The U.S. Dow Jones Industrial Average and S&P 500 both fell overnight and pulled back from their latest records. Despite setting a new record in early trading, the Composite Index fell 0.19% and the 30-stock Dow Jones Industrial Average fell 0.7%.
The Nasdaq edged up 0.04%.
—CNBC’s Brian Evans and Jesse Pound contributed to this report.
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