Asian stock markets closed on a positive note today, buoyed by the Bank of Japan’s decision to maintain its policy interest rates. Here’s a roundup of the key market movements across the region:
Hong Kong’s Hang Seng: The index closed positively for the fifth consecutive day, reaching 17,651.15 points, up 366.61 points or +2.12%. The surge was attributed to a rally in technology stocks, supported by strong performances from industry giants like Microsoft and Alphabet. Investors remained attentive to the impending release of US inflation data.
South Korea’s KOSPI: The index closed at 2,656.33 points, up 27.71 points or +1.05%. Investors showed interest in blue-chip stocks in the technology and financial sectors, despite a dip in the Wall Street market. The South Korean won, however, weakened against the US dollar.
China’s Shanghai Composite: The index closed at 3,088.64 points, marking an increase of 35.74 points or +1.17%. Market sentiment improved following optimistic analyst views on the Chinese stock market. Investors also monitored Chinese economic data, including industrial profits.
Tokyo’s Nikkei: The index closed positively at 37,934.76 points, up 306.28 points or +0.81%, after the Bank of Japan (BOJ) announced its decision to maintain the policy interest rate. The move contributed to a sense of relief among investors.
Australia’s S&P/ASX 200 and All Ordinaries: Both indices closed lower, with the S&P/ASX 200 at 7,575.90 points (down 107.10 points or -1.39%) and the All Ordinaries at 7,837.40 points (down 100.10 points or -1.26%). The decline followed the release of higher-than-expected inflation figures in Australia, leading traders to reassess the likelihood of interest rate cuts by the Reserve Bank of Australia this year.