View of Victoria Terminal or Chhatrapati Shivaji Terminal (CST) and central Mumbai at sunset Mumbai India
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India’s benchmark index hit a record high on Thursday as Asia-Pacific markets tracked Wall Street’s gains on expectations for Fed interest rate cuts and a rally in tech stocks.
of nifty 50 BSE Sensex touched 26,284.2 while it touched 86,026.18. The last time both indexes reached record highs was in September 2024.
Japanese benchmark Nikkei Stock Average The index ended 1.23% higher at 50,167.1, led by tech stocks, while the Topix index rose 0.39% to 3,368.57. Among the top movements were: Advantestup 4.88%, tech conglomerate Softbank Group Soared 3.57%, laser techup 4.6%.
South Korea’s Kospi rose 0.66% to 3,986.91, while the small-cap Kosdaq rose 0.31% to 880.06. The Bank of Korea kept its policy interest rate unchanged at 2.5% for the fourth consecutive policy meeting, as expected, against the backdrop of a weak domestic currency and an overheated housing market. The South Korean won has depreciated against the dollar in recent months, hitting its lowest level since April.
Australia’s ASX/S&P 200 index rose 0.13% to close at 8,617.3.
hong kong Hang Seng Index The mainland CSI 300 closed flat at 25,945.93 and 4,515.4 respectively.
China’s industrial profits fell 5.5% in October from a year earlier, according to government data on Thursday. Profits for the first 10 months of this year were up 1.9% year-on-year, and profits for the January-September period were up 3.2%.
Overnight, major US indexes rose for the fourth day in a row as expectations for the US Federal Reserve (Fed) to cut interest rates in December increased. Investors see an 85% chance of a quarter-point rate cut in December, up from 30% last week, according to the CME FedWatch tool.
Artificial intelligence player share oracle The stock rose more than 4% on Wednesday, pushing up the major averages after Deutsche Bank reaffirmed its bullish stance on the stock.
US time on Wednesday, the Dow Jones Industrial Average rose 314.67 points, or 0.67%, to end at 47,427.12. The S&P 500 rose 0.69% to close at 6,812.61, and the Nasdaq Composite Index rose 0.82% to close at 23,214.69.
—CNBC’s Sean Conlon and Pia Singh contributed to this report.
