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Asia Markets Mixed as Wall Street Rally Stumbles

Asia-Pacific markets were mixed on Thursday after Wall Street’s tech-fueled rally dissipated, with investors focused on Japan’s spring wage negotiations and India’s wholesale inflation data.

In Japan, the Nikkei 225 index regained 111.41 points, or 0.3%, to 38,807.38.

Japan’s wage negotiations wrapped up on Wednesday, with the first overall estimate due on Friday. Reports from local outlets have indicated that large firms offered “major” wage hikes.

Strong wage increases could clear the way for the Bank of Japan to start unwinding its ultra-easy monetary policy, with the central bank due to meet next Monday and Tuesday.

In Hong Kong, the Hang Seng index lost 120.45 points, or 0.7%, to 16,966.66.

Australia ended the day lower, despite a rally by miners on the back of gold’s continued strength.

In other markets

In Shanghai, the CSI 300 lopped off 10.14 points, or 0.3%, to 3,562.22.

In Korea, the Kospi index gained 25.19 points, or 0.9%, to 2,718.76.

In Taiwan, the Taiex index moved higher 9.41 points, or 0.1%, to 19,937.92.

Singapore’s Straits Times Index climbed 25.68 points, or 0.8%, to 3,186.40.

In New Zealand, the NZX 50 subtracted 0.68 points to 11,808.33.

In Australia, the ASX 200 discarded 15.82 points, or 0.2%, to 7,713.63.