People walk into the Korea Exchange (KRX) building in Seoul, South Korea, on December 9, 2024, as stock markets across Asia were affected by political turmoil exacerbated by President Yoon Seok-yeol’s role in martial law.
Daniel Zeng | Anadolu | Getty Images
Asia-Pacific shares climbed on Thursday as U.S. stocks soared as core inflation data unexpectedly fell in December and strong bank profits surged.
Asian investors awaited an interest rate decision from the Bank of Korea later in the day, with economists polled by Reuters expecting the central bank to cut its policy rate by 25 basis points.
Japan’s benchmark Nikkei 225 Index It opened up 0.73% and the Topix rose 0.48%.
Japan’s annual producer price index rose 3.8% in December, in line with expectations of economists polled by Reuters.
At the same time, South Korea Cospi It opened the day up 1.24%, while the small-cap Kosdaq rose 1.35%.
Hong Kong’s Hang Seng Index futures were quoted at 19,426 points, opening stronger compared to the Hang Seng Index’s closing point of 19,286.07 points.
In Australia, S&P/ASX 200 Index up 1.58%.
The country was due to release unemployment data for December later in the day. Economists polled by Reuters said the unemployment rate was expected to rise slightly to 4% from 3.9% in November.
U.S. stocks rose sharply overnight, with all three major stock indexes recording their best single-day performances since November 6.
The Dow Jones Industrial Average fell 1.65% and the S&P 500 rose 1.83%. The Nasdaq, which is dominated by technology stocks, rose 2.45%.
At the same time, affected by the CPI report, the benchmark 10-year government bond yield fell sharply to about 4.65%, or about 13 basis points.
Oil prices rose following news of a ceasefire and hostage deal between Israel and Hamas. Brent crude oil rose 3.22% and WTI crude oil edged up 0.3% to close at $80.28 a barrel.
—CNBC’s Hakyung Kim and Lisa Kailai Han contributed to this report.
About The Author
