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Asia Climbs Across the Board

Asia-Pacific markets climbed across the board Thursday, in contrast with Wall Street’s overnight losses which saw the S&P 500 and the NASDAQ Composite fall for a fourth straight day.

The Nikkei 225 Index rebuilt 117.9 points, or 1.3%, to 38,079.70, ending a three-day losing streak.

Bank of Japan board member Asahi Noguchi said the pace of hikes for the central bank will be “much slower” than those of its global peers.

Noguchi said in a speech in Saga prefecture that it will take “a considerable amount of time” for prices to rise sustainably to the Bank of Japan 2% target rate.

In Hong Kong, the Hang Seng index hiked 134.03 points, or 0.8%, to 16,385,87.

Investors in Asia will assess Australia’s unemployment rate, which is one of the metrics the country’s central bank weighs when considering monetary policy.

In other markets

In Shanghai, the CSI 300 nicked up 4.4 points, or 0.1%, to 3,187.66.

In Korea, the Kospi regained 50.52 points, or 2%, to 2,634.70.

In Singapore, the Straits Times Index took on 35.97 points, or 0.5%, to 3,154.69.

In Taiwan, the Taiex index improved 87.87 points, or 0.4%, to 20,301.20.

In New Zealand, the NZX 50 subtracted 39.31 points, or 0.3%, to 11,836.04.

In Australia, the ASX 200 recovered 36.52 points, or 0.5%, to 7,642.11.