Japan Bounces to Heights Not Seen Since 1990

Asia-Pacific markets largely rose as two of the three Wall Street’s major indexes hit record highs on Thursday night and House Speaker Kevin McCarthy says that he is confident a deal can be struck on the U.S. debt ceiling by next week.

In Japan, the Nikkei 225 hiked 234.42 points, or 0.8%, to 30,808.35, wrapping up its best week since October. maintaining the highest levels since 1990.

Japan’s core inflation in April rose 3.4% year-on-year, maintaining levels above the central bank’s target.

Leaders from the Group of 7 will be gathering in Hiroshima, Japan for the G-7 summit that kicks off today.

In Hong Kong, the Hang Seng settled 276.68 points, or 1.4%, to 19,450.57.

In other markets

In China, the CSI 300 index dropped 11.53 points, or 0.3%, to 3,944.54.

In Singapore, the Straits Times index took on 20.04 points, or 0.6%, to 3,202.59.

In Korea, the Kospi gathered 22.39 points, or 0.9%, to 2,537.79.

In Taiwan, the Taiex index advanced 73.04 points, or 0.5%, to 16,174.92.

In New Zealand, the NZX 50 popped 123.66 points, or 1%, to 12,099.74.

In Australia, the ASX 200 improved 42.74 points, or 0.6%, to 7,279.52.