Asia-Pacific markets open higher after S&P 500 and Dow hit new highs: Live updates

Asia-Pacific markets open higher after S&P 500 and Dow hit new highs: Live updates


The Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), in Tokyo, Japan, on Monday, Aug. 5, 2024. 

Noriko Hayashi | Bloomberg | Getty Images

Asia-Pacific markets are set to open higher on Thursday, following gains on Wall Street that saw the S&P 500 and Dow Jones Industrial Average reach new records as investors shook off geopolitical concerns.

Australia’s S&P/ASX 200 was up 0.5% in early trading. South Korea’s Kospi jumped 0.6%, while the small-cap Kosdaq was up 0.7%.

Japan’s Nikkei 225 opened up 0.5%, while the broad-based Topix gained 0.4%.

Traders in Asia will assess data from September on producer prices in Japan which rose 2.8% from a year ago. Economists polled by Reuters had predicted the inflation rate would come in at 2.3%, down from 2.5% in August.

Hong Kong Hang Seng index futures were at 21,070, higher than the HSI’s last close of 20,637.24.

Traders will monitor markets in China after the Shenzhen Composite Index registered its worst trading day since 1997 as Beijing disappointed investors and have not announced further, major stimulus measures beyond the initial blitz. 

Overnight in the U.S., the S&P 500 rallied 0.71% to end at 5,792.04 after hitting an all-time high, while the 30-stock Dow surged 431.63 points, or 1.03%, to reach 42,512 for a record close. The Nasdaq Composite gained 0.6% to end at 18,291.62.

Wall Street maintained its gains after the release of minutes from the Federal Reserve’s September meeting, in which it cut by a half percentage point, revealed that a “substantial majority of participants” had favored reducing interest rates by the larger amount.

The strong trading day also came despite lingering fears of a broader war in the Middle East as Israel promises to launch a retaliatory strike against Iran.

— CNBC’s Samantha Subin and Sarah Min contributed to this report.



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