Asia-Pacific markets rose on Thursday, led by Hong Kong’s Hang Seng index and the mainland Chinese markets which extended gains toward the session close.
In Japan, the Nikkei 225 recovered in a big way, leaping 1,053.37 points, or 2.8%, to 38,925.63, after the Bank of Japan released minutes of its July meeting.
The Hang Seng gained 795.48 points, or 4.2%, to 19,924.58.
Markets in Korea had some jump, powered by gains in chipmaker SK Hynix, which surged 9.4%.
SK Hynix announced on Wednesday that it had begun mass production of the world’s first 12-layer HBM3E chip, which are used in AI memory applications.
CHINA
In Shanghai, the CSI 300 added 143.79 points, or 4.2%, to 3,545.32, hitting its highest levels in about four months.
Chinese and Hong Kong stocks climbed sharply higher after state media on Thursday afternoon announced that China’s top leaders held a meeting that affirmed the government’s latest efforts to support the economy.
Chinese President Xi Jinping led a meeting earlier Thursday of the Politburo, the second-highest circle of power in the ruling Chinese Communist Party, state media said.
The readout said leaders called for strengthening fiscal and monetary policy support. They also called for “halting” the decline of the real estate market and spurring its “stable recovery.”
The People’s Bank of China on Tuesday announced a slew of interest rate cuts and said it would extend existing support for the real estate market by two years, among other plans.
In other markets,
In Korea, the Kospi restocked 75.25 points, or 2.9%, to 2,671.57
In Singapore, the Straits Times Index settled 39.47 points, or 1.1%, to 3,583.27.
In Taiwan, the Taiex index churned ahead 97.21 points, or 0.4%, to 22,858.81.
In New Zealand, the NZX 50 popped 267.05 points, or 2.2%, to 12,491.59.
In Australia, the ASX 200 soared 77.3 points, or 1%, to 8,203.66.
