Most Asian stocks rose on Thursday, with technology shares rallying after Nvidia’s strong performance, while Japanese markets surged due to weaker-than-expected producer inflation, which countered recent hawkish signals from the Bank of Japan (BOJ).
Technology stocks across the region followed their U.S. counterparts higher after NVIDIA Corporation (NASDAQ: NVDA) CEO Jensen Huang highlighted robust demand for artificial intelligence, driving gains primarily in chipmakers.
However, U.S. stock index futures remained flat in Asian trading, as a stronger-than-expected consumer inflation reading dampened hopes for aggressive interest rate cuts. Markets are currently anticipating a 25 basis point cut by the Federal Reserve next week.
Japan Outperforms as Soft PPI Dulls Hawkish BOJ Talk
Japan’s Nikkei 225 and TOPIX indexes led Asian markets on Thursday, rising between 2% and 3%. The boost in Japanese stocks came after the producer price index (PPI) inflation for August came in lower than anticipated, casting doubt on recent BOJ comments that further interest rate hikes were needed.
The softer inflation reading reduced the immediate pressure on the BOJ to raise rates, despite previous remarks from BOJ board member Naoki Tamura suggesting that interest rates needed to rise to at least 1% to mitigate inflationary risks. Analysts remain uncertain about whether the BOJ will hike rates at its meeting next week.
Asian Tech Stocks Rally, Led by Chipmakers on Nvidia Boost
A rally in tech stocks bolstered Japanese markets, with tech-heavy bourses across Asia also posting stronger gains. South Korea’s KOSPI rose 1.2%, while Taiwan’s TSMC (TW:2330) (NYSE: TSM) jumped 4.7%, lifting the Taiwan Weighted Index.
Chipmakers, in particular, surged, following an 8% overnight rally in Nvidia. Comments from Nvidia’s CEO reinforced the belief that AI demand would continue to support tech valuations despite a challenging broader economic outlook. Nvidia suppliers such as SK Hynix Inc (KS:000660) and Advantest Corp. (TYO:6857) rose 5.4% and 7%, respectively.
Samsung Electronics Co Ltd (KS:005930) climbed 1% after a Reuters report indicated the company was planning global job cuts of up to 30% in certain divisions.
Broader Gains Outside Tech Were Subdued
Beyond technology, gains in other sectors across Asian markets were more muted. Australia’s ASX 200 edged up 0.7%, while India’s Nifty 50 futures suggested a modest open after the index declined on Wednesday.
Meanwhile, China’s Shanghai Shenzhen CSI 300, Shanghai Composite, and Hong Kong’s Hang Seng indexes lagged, trading in a flat-to-low range. Investor sentiment towards China weakened amid reports that U.S. lawmakers were preparing additional trade restrictions against the country.
.
#everyday_information #forex #option #Binary_Option #trading #trader #goldstocks #forextrader #fx_trade_time #fxttime #USDollar #euro #JPY #GBP #chfcurrency
#dubai #UAENews #ksasaudiarabia #Syrian #iraq #kuwait #jordan #morocco #Libya #tunisia #algerian #Egypt #qatar #lebanon
#كل_يوم_معلومه #فوركس #خيارات_ثنائيه #تداول_عملات #بورصه #ذهب #فوركس_تريد_تايم #اف_اكس_تريد_تايم #دولار #يورو
#دبي #امارات #السعوديه #سوريا #العراق #الكويت #الاردن #المغرب #ليبيا #تونس #الجزائر #مصر #قطر #لبنان
.
www.fxttime.com/trade