Aerial sunrise view of the city of Osaka, Japan
Frank Lee | Moment | Getty Images
Asia-Pacific markets were mostly higher on Thursday, after Wall Street gained hope that the Federal Reserve may cut interest rates next week following a weaker-than-expected jobs report.
ADP reported that private companies laid off 32,000 jobs in November, compared with 47,000 new hires in October, and well below the 40,000 increase expected by economists polled by Dow Jones.
Markets have an 89% chance of a cut when the Federal Reserve meets on Dec. 9-10, significantly higher than bets on a rate cut just a few weeks ago, according to CME FedWatch tool.
In Asia, the standard of Japan Nikkei 225 the index added 1.77%, and the Topik index added 1.81%.
Industrial and technology stocks led the Nikkei index higher. Actions of Japan Fanuc surged by more than 12%. Manufacturer of industrial robots announced partnership with Nvidia on Tuesday, sending shares up 6.51% on the day.
Shares of the technology-focused investment giant SoftBank gathered for the second day in a row. Shares jumped more than 8%.
Japanese chip equipment manufacturer Lasertec it recovered for the third consecutive session, increasing by 6.5%. Renesas Electronics jumped more than 9% after the California semiconductor company SiTime Corp is reportedly in talks to buy the Japanese chipmaker’s unit of time. The deal could value the timing business at up to $2 billion, including debt, Bloomberg reported he saidreferring to people familiar with the matter.
South Korea Kospi the index fell by 0.64%, while the small-cap Kosdak fell by 0.12%.
Australia’s ASKS/S&P 200 rose 0.19%.
Hong Kong Hang Seng Index added 0.19% and the CSI 300 added 0.28%.
India A great 50 advanced by 0.27%, while the BSE Sensex index rose by 0.22%. The Indian rupee opened at a record low of 90.4 against the dollar, hitting an all-time low for the third day in a row.
Actions from IndiGothe country’s largest airline, fell as much as 3% after canceling several flights since Monday. IndiGo attributed the disruptions over the past two days to unforeseen issues such as adverse weather conditions and increased crowding, as well as the implementation of updated schedule rules, Reuters reported.
Flight interruptions allegedly continued for a fourth day, as a Bengaluru airport spokesperson said 73 IndiGo flights were canceled on Thursday.
overnight, Dow Jones Industrial Average gained 408.44 points, or 0.86%, and ended at 47,882.90. The S&P 500 traded up 0.30% to end the day at 6,849.72, while Nasdaq Composite added 0.17% to settle at 23,454.09.
Stocks exposed to AI trading were the biggest drag on key U.S. benchmarks on Wednesday in the nation, after The Information reported Microsoft has been reducing quotas for sales of software related to artificial intelligence.
Other major tech names including Nvidia and Broadcomit dragged the broad-based S&P 500 lower.
Microsoft denied the claims in the report, which led to a slight recovery in shares in after-hours trading.
— CNBC’s Sean Conlon and Pia Singh contributed to this report.
