Asia-Pacific markets showed positive movement on Thursday, with China’s CSI 300 leading the region’s gains after the release of stronger-than-expected export data for October.
In a day of choppy trading, mainland China’s CSI 300 index rose 3.02%, closing at 4,145.7, while Hong Kong’s Hang Seng Index climbed 2% as of its final hour of trading.
The encouraging export data, which significantly exceeded market expectations, gave a boost to investor sentiment across the region. The CSI 300’s rally came amid broader optimism in Chinese markets, despite ongoing challenges, such as concerns over local government debt and slowing economic growth.
Other major markets in the region also posted gains, although with mixed performance. South Korea’s Kospi rose modestly by 0.5%, closing at 2,576.30, while Japan’s Nikkei 225 fell by 0.43% to 39,381.41, marking the only significant loss among the major indices. However, Japan’s broader Topix index was up by 1%, reaching 2,743.08.
Australia’s S&P/ASX 200 gained 0.33%, closing at 8,226.3, while South Korea’s smaller-cap Kosdaq lost 1.32%. Despite some fluctuations, the regional outlook remained generally positive as markets responded to the news of Donald Trump’s victory in the 2024 US presidential election. This development had already led to significant gains in US markets, with all three major US indices hitting record highs the previous day.
The yen, which had weakened to its lowest level in months earlier in the week, showed signs of recovery on Thursday, trading at 153.81 against the US dollar after reaching 154.7 in earlier trading.
The data from China fueled expectations that the government may soon introduce additional stimulus measures to support economic growth, adding further optimism to investor sentiment. Despite concerns over global trade dynamics, especially with rising tariff risks under a potential Trump presidency, the strong export figures provided a positive note for markets in the region.
With input from CNBC, Market Watch, and Reuters.
