People watch the first sunrise of the new year from a pedestrian bridge overlooking the city skyline in Seoul on Jan. 1, 2024.
Jung Yoon-ji | AFP | Getty Images
Asia-Pacific markets opened mostly higher on Thursday, as investors assessed flash business activity data from Australia, Japan and India throughout the trading day.
The Bank of Korea also kept its benchmark interest rate at 3.5%, in line with expectations, but traders will be watching the language used in its press release later to see if there is any easing of monetary policy.
This comes after the Federal Reserve released the minutes of its July meeting, where the summary revealed that some participants raised the issue of easing interest rates at the July meeting instead of September.
However, the “vast majority” of participants at the July 30-31 meeting “note that if data continue to flow in as expected, it will likely be appropriate to ease policy at the next meeting,” the summary said.
Japan Nikkei 225 Index The broader Topix index rose 0.32%. Business in Japan The UK manufacturing sector expanded at a faster pace in August, with the composite Purchasing Managers’ Index rising to 53.0 from 52.5 in July.
The country’s manufacturing sector returned to growth, while the services sector expanded faster.
South Korea Cosby The Kosdaq small-cap index rose slightly, but the index fell 0.53%.
Hong Kong Hang Seng Index China’s stock index rose 0.35%, with the CSI 300 index in mainland China trading slightly above the flat line.
Australia’s S&P/ASX 200 rose 0.25%, after the country released quick economic data. Composite Purchasing Managers’ Index The services sector purchasing managers’ index (PMI) rose to 51.4 in August from 49.9 in the previous month, its highest level in three months, supported by a rise in services activity, according to Judo Bank.
In the United States, the three major indexes rose after the Federal Reserve minutes boosted hopes of an interest rate cut in the near future.
The S&P 500 rose 0.42%, bringing the benchmark index about 1% closer to its all-time record close. The technology-dominated Nasdaq Composite added 0.57%, while the Dow Jones Industrial Average rose 0.14%.
—CNBC’s Alex Haring and Samantha Sobin contributed to this report.
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