Japan’s benchmark Nikkei 225 index concluded the trading session with a gain of 1.23%, reaching 50,167.1, primarily driven by advancements in technology stocks. Meanwhile, the Topix index experienced an increase of 0.39%, finishing at 3,368.57. Among the top movers were Advantest, which increased by 4.88%, tech conglomerate SoftBank Group, which rose by 3.57%, and Lasertec, which experienced an uptick of 4.6%. India’s benchmark indexes reached an all-time high on Thursday, reflecting the upward momentum in Asia-Pacific markets, which were buoyed by gains driven by expectations of a Federal Reserve rate cut and a rebound in the technology sector. The Nifty 50 reached a level of 26,284.2, whereas the BSE Sensex attained a value of 86,026.18. Both indexes reached their record highs in September 2024.

South Korea’s Kospi increased by 0.66%, reaching 3,986.91, whereas the small-cap Kosdaq rose by 0.31% to 880.06. The Bank of Korea maintained its benchmark interest rate at 2.5% — consistent with forecasts — for the fourth consecutive policy meeting, in the context of a depreciated local currency and an overheated housing market. The Korean won has depreciated against the US dollar in recent months, reaching its lowest point since April. Australia’s ASX/S&P 200 experienced a modest increase of 0.13%, concluding the trading session at 8,617.3. Hong Kong’s Hang Seng Index and mainland’s CSI 300 concluded the trading session unchanged at 25,945.93 and 4,515.4, respectively.

Data released on Thursday indicated that China’s industrial profits experienced a significant decline of 5.5% in October compared to the same month last year. Profits for the initial ten months of the year increased by 1.9% year on year, in contrast to the 3.2% increase observed during the January to September timeframe. Overnight, the key indexes in the U.S. recorded four consecutive days of gains, fueled by increasing optimism regarding a potential Federal Reserve interest rate cut in December. Market participants now assign an 85% probability to a quarter-percentage-point rate reduction in December, a significant increase from the 30% likelihood observed the previous week.

Oracle, a prominent player in the artificial intelligence sector, experienced a rise of over 4% on Wednesday, contributing positively to major averages following Deutsche Bank’s reaffirmation of its optimistic outlook on the company. On Wednesday in the United States, the Dow Jones Industrial Average increased by 314.67 points, or 0.67%, concluding the day at 47,427.12. The S&P 500 experienced an increase of 0.69%, concluding at 6,812.61, whereas the Nasdaq Composite rose by 0.82%, finishing at 23,214.69.