Red flags fly at Tiananmen Square in Beijing, China, on Wednesday, July 10, 2024.
Bloomberg | Bloomberg | Getty Images
Asia-Pacific markets rose on Thursday, with markets in the region led by Hong Kong’s Hang Seng index and mainland Chinese markets extending gains.
Hong Kong’s Hang Seng index advanced 3%, reaching its highest level since May.
Mainland China’s CSI 300 extended its winning streak to the seventh day, hitting its highest levels in nearly two months after Beijing rolled out a slate of economic stimulus measures on Tuesday. The index was 1.58% higher.
Japan’s Nikkei climbed 2.51%, while the broad based Topix was up 2.12%, as the Bank of Japan released minutes of its July meeting.
South Korea’s Kospi jumped 2.41%, powered by gains in chipmaker SK Hynix, which surged over 8%, while the small-cap Kosdaq gained 2.18%.
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.
Australia’s S&P/ASX 200 was 0.98% higher.
Overnight in the U.S., both the Dow Jones Industrial Average and S&P 500 slid and retreated from their latest records. The broad-based index lost 0.19%, while the 30-stock Dow fell 0.7% despite hitting fresh records in early trading.
The Nasdaq Composite eked out a narrow gain of 0.04%.
—CNBC’s Brian Evans and Jesse Pound contributed to this report.
